Eindhoven-based startup Photon IP has raised €4.75mn in seed funding as it looks to scale up its unique method for creating energy-efficient photonic chips.
AI systems, data centres, fibre-optic networks, and even some sensors rely on photonic chips to send and receive information using light. These chips are a big deal because they’re faster and use less energy than typical semiconductors, which transfer data through electricity.
But to make these high-performance, light-speed chips you need special compounds called III-V materials, such as indium phosphide.
“These materials are relatively scarce and expensive though, so the industry has been looking at ways of using silicon, leveraging all the scale and capability from the world of electronics,” Photon’s CCO John Anderton told TNW.
However, combining III-V materials with silicon on one single chip is, simply put, bloody difficult. That’s exactly where Photon has found an attractive market opportunity.
The ???? of EU tech
The latest rumblings from the EU tech scene, a story from our wise ol’ founder Boris, and some questionable AI art. It’s free, every week, in your inbox. Sign up now!
Founded in 2022, the startup has developed a way to integrate III-V materials and silicon onto a single chip that can handle light better, use less power, and be mass-produced for things like faster internet, smarter AI systems, and high-precision sensors.
“There are many companies making photonic chips, but the challenge is finding the best way to combine and integrate these materials onto a single chip,” said Anderton. “We bring to market a unique, revolutionary technology that allows us to deliver the lowest energy use and the best performance while being scalable.”
Photon is fabless, meaning it outsources the chipmaking to established manufacturers, who make the chips to the startup’s specifications. The commercial value lies in Photon’s secret sauce.
Amsterdam-based deep tech VC Innovation Industries led Photon’s seed round, with participation from Faber and the Brabant Development Agency. The venture arm of PhotonDelta, a photonics industry body based in Eindhoven, was the fourth and final investor.
Photon IP has already secured €2mn in grant funding from the European Innovation Council. Today’s seed round is its second injection of private equity, following a €1.1mn investment in 2022 led by Polish early-stage photonics investment firm Vigo Ventures.
Photon told TNW it will use the fresh funding to grow its team as it looks to announce its first photonic chip products later this year.