PhotonDelta-Backed Fund Raises €60M for European Photonics Startups

A deep-tech venture capital firm backed by Netherlands-based photonics ecosystem PhotonDelta has raised €60 million ($65.5 million) in its debut funding round. The fund, launched by PhotonVentures, is aimed at early-stage photonic chip startups and scale-ups. It plans to initially invest in 15 European deep-tech companies that have potential to grow into international winners in their sectors, though the startups should have an integrated photonics-based minimum viable product connected to the European ecosystem.

PhotonDelta was joined in the round by private investors.

In total, PhotonVentures plans to raise €100 million to €150 million, with its final close set for the start of 2024. It will prioritize series A rounds, with the aim of providing investments between €1 million and €2.5 million.

The round comes after PhotonDelta last year secured €1.1 billion in public and private investment to scale up production, build 200 startups, create new applications for photonic chips, and develop infrastructure and talent.