PhotonVentures, a Dutch deep tech fund aiming to revitalize Europe's photonics industry, has closed its second funding round with over €15 million, taking total capital to €75 million.
The fund targets startups and scale-ups developing solutions using photonic chips for a wide range of applications, from data transmission and health diagnostics to smart sensors, AI, AR and VR.
PhotonVentures will initially invest in 20 early-stage companies with international growth potential. The focus is on Seed to Series A rounds, with investment amounts varying between €1 million and €2.5 million.
The VC firm is a spin-off and strategic partner of PhotonDelta, a manufacturer of photonic microchips and contributing to Europe's integrated photonics sector.
PhotonVentures raised €60 million in its first funding round last year. The goal is to reach an initial capital of 100 million euros by the end of 2024.
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“We want to support the photonics industry both in the Netherlands and in Europe,” Ewit Roos, general partner at Photon Ventures, told TNW.
This is an important technology where light plays a key function and is used in a wide range of applications. Includes data communications, sensing, imaging, defense, and more.
According to Ruth, the fund's benefits are three-fold. Funding and can serve as a driving force for further his VC investments in this area, building on the knowledge and experience of PhotonDelta and its network.
PhotonVentures' existing portfolio spans multiple photonics areas and includes startups such as Delta Diagnostics, EFI, and Quix Quantum.
