PhotonVentures, a deeptech venture capital firm that has emerged from PhotonDelta, has launched a new fund to support European photonic chip startups and scale-ups. The firm successfully raised €60 million in its first financing round, led by PhotonDelta and supported by private investors. PhotonVentures is aiming to raise a total of €100 to €150 million by early 2024.
The fund will primarily focus on Series A rounds and aims to provide investments ranging from €1 million to €2.5 million. By leveraging the Dutch PhotonDelta ecosystem, PhotonVentures intends to accelerate the growth of European startups and scale-ups in the photonics industry. Photonics chips play a vital role in various applications such as quantum computing, robotics, sustainable agriculture, and autonomous vehicles.
PhotonVentures plans to initially invest in 15 European deeptech companies that have the potential to become international leaders in their respective sectors. These startups should have a minimum viable product (MVP) based on integrated photonics and connected to the European ecosystem.
General Partner at PhotonVentures, Joachim de Sterke, stated, There are hundreds of incredibly promising startups and scale-ups driving the development and application of photonic chips that need investment and support to take the next step on their journey. PhotonVentures fulfills this need as the only fund dedicated to photonic chip startups and scale-ups. Our goal is to play a crucial role in making Europe a global leader in integrated photonics. Our fund will continue to expand, allowing us to invest in numerous startups over the coming years.
PhotonDelta, founded in 2014, has already invested significantly in photonics companies and research and development (R&D) over the past five years. By backing PhotonVentures’ fund, PhotonDelta is taking another significant step towards building a world-leading integrated photonics industry in the Netherlands and Europe. Last year, PhotonDelta secured €1.1 billion in public and private investment to expand production, establish 200 startups, create new applications for photonic chips, and develop infrastructure and talent.
With the launch of the new fund, PhotonVentures aims to foster innovation, support deeptech startups, and drive the growth of the European photonics industry. By providing crucial investments and strategic support, PhotonVentures and PhotonDelta envision a future where Europe becomes a global leader in integrated photonics, harnessing the potential of photonic chip technologies across various sectors.
