PhotonVentures Raises €15mn in Second Fundraising Round

Dutch deep tech fund PhotonVentures has raised over €15mn in its second fundraising round, bringing its total capital to €75mn. The fund targets startups and scaleups developing solutions with photonic chips for various applications including data transmission, health diagnostics, smart sensors, AI, AR, and VR. PhotonVentures will initially invest in 20 early-stage companies with international growth potential, focusing on Seed to Series A rounds with investments varying between €1mn and €2.5mn. The VC firm is a spinoff and strategic partner of PhotonDelta, a manufacturer of photonic microchips and a contributor to the integrated photonics sector in Europe. PhotonVentures aims to reach €100mn for its initial fund by the end of 2024.

Key Takeaways

• Dutch deep tech fund, PhotonVentures, closed its second fundraising round with over €15mn, bringing its total capital to €75mn.
• The fund will invest in startups and scaleups developing solutions with photonic chips for various applications such as data transmission, health diagnostics, AI, AR, and VR.
• PhotonVentures aims to initially invest in 20 early-stage companies with international growth potential, focusing on Seed to Series A rounds with investments ranging from €1mn to €2.5mn.
• PhotonVentures, a spinoff and strategic partner of PhotonDelta, raised €60mn in its first fundraising round last year and aims to reach €100mn for its initial fund by the end of 2024.
• The fund's primary objectives are to support the photonics industry in the Netherlands and Europe, with a threefold benefit of providing capital, leveraging knowledge and experience, and acting as a driver of further VC investment in the field.

Analysis

PhotonVentures' successful fundraising signals a positive trajectory for the European photonics industry. The fund's augmented capital will enable it to support more early-stage startups and scaleups, fostering innovation in data transmission, health diagnostics, AI, AR, and VR. This will likely result in a surge of technological advancements and economic growth in the photonics sector in the short term. In the long term, the increased investment capacity could position PhotonVentures as a pivotal player in the European venture capital market, driving further investments in photonics and solidifying the continent's position as a hub for technological innovation. This development could also impact startups in the photonics space looking for initial funding in the region.

Did You Know?

• Photonics: The use of light-based technologies, particularly photonic chips, for various applications such as data transmission, health diagnostics, and augmented reality.
• Seed to Series A rounds: Investment stages in a startup's lifecycle where they are typically raising initial rounds of capital to grow and expand their business.
• Integrated photonics: The sector involving the manufacturing and utilization of photonic microchips in various technological applications.