Dutch Integrated Photonics Eco-platform Raises €60 Million To Support European Photonics Startups

Recently, PhotonVentures, headquartered in Eindhoven, the Netherlands, announced the launch of a venture capital fund aimed at helping early-stage photonic chip startups and scale-up companies.
In the first round, Dutch photonic integrated circuit (PIC) pioneer PhotonDelta reportedly raised €60 million as lead investor and a host of private investors.PhotonVentures said it plans to raise a total of €100 million to €150 million, with a final closing date of early 2024. It will prioritize Series A funding, aiming to provide investments of €1 million to €2.5 million.
PhotonVentures' investment strategy leverages the Dutch PhotonDelta ecosystem to accelerate European startups and scale.
PhotonVentures is an independent deep technology venture capital firm, generated by PhotonDelta, the pioneering force behind the Dutch integrated photonics ecosystem. The two organizations are strategic partners aiming to support the rapid growth of the European photonics industry. The fund plans to initially invest in 15 European hard technology companies that have the potential to grow into international winners in their respective fields. The startups should have an integrated photonics-based MVP connected to the European ecosystem.
Significant investment
Founded in 2014, PhotonDelta has made significant investments in photonics companies and R&D over the last 5 years. By supporting this fund, PhotonDelta is taking another step towards its goal of establishing a world-leading integrated photonics industry in the Netherlands and Europe.
Last year, PhotonDelta secured €1.1 billion in public and private investment to scale up production, establish 200 startups, create new applications for photonic chips, and develop infrastructure and talent.
PhotonDelta became a major investor in the fund by transferring its portfolio to PhotonVentures, whose board of directors consists of Joachim de Sterke, Pieter Klinkert and Rijkman Groenink.
"There are hundreds of very promising startups and scale-ups driving the development and application of photonic chips that need investment and support to take the next step," commented de Sterke, General Partner of PhotonVentures. "PhotonVentures fulfills this need by being the only fund directly targeting photonic chip startups and scale-ups. Our goal is to play a significant role in making Europe a global leader in integrated photonics. We will continue to expand our fund, enabling us to invest in dozens of startups in the coming years."
René Penning de Vries, Chairman of PhotonDelta's Supervisory Board, said, "The integrated photonics industry is growing rapidly, but there is a lack of investors with the knowledge and capital to support the industry's ambitions. By transferring its existing portfolio, PhotonDelta is able to utilize its assets to attract additional capital and initiate the creation of PhotonVentures."