Dutch VC firm PhotonVentures has raised €60mn for its new fund aimed at boosting Europe’s photonics industry. The capital targets startups and scaleups active in photonic chips – a key technology for applications in robotics, quantum computing and autonomous vehicles.
Specifically, the fund will initially invest in 15 early-stage companies that show international growth potential and are an integrated photonics-based MVP linked to the European ecosystem.
It will prioritize Series A rounds, while investments will vary between €1mn and €2.5mn. Deep Tech VC hopes to raise an additional €40-90mn by early 2024.
Joachim de Sterke, General Partner at PhotoVentures, noted the need for investment and support to enable promising companies in the sector to progress in their journey.
,[This] It is the only fund designed directly for photonic chip startups and scaleups. We aim to play a key role in making Europe the global leader in integrated photonics.”
photoventures Photon is a spinoff and strategic partner of Delta, a photonic chip manufacturer and an ecosystem builder for the integrated photonics industry in Europe.
In 2022, PhotonDelta invests €1.1 billion in public and private investment To promote the semiconductor chip industry in the Netherlands. The funding will be used to build 200 startups, create new applications for photonic chips, scale up production, and develop talent and infrastructure. The company is also the lead investor behind PhotonVentures’ new fund.