Swave Photonics, a leader in the use of true holography for augmented reality, today announced the success of its seed round expansion. This additional €3 million investment brings Swave’s total funding to €10 million.
Reinvestment from existing investors, imec.Xpand, nanotechnology innovation-focused venture capital fund, Flanders Future Techfund (FFTF), Belgian/Flemish public investment fund and Belgian inter-university venture capital QBIC, which reflects the confidence of businessmen. nanotechnology innovation, Swave’s technology.
These investors are joined by new American investors Acequia Capital, a Seattle, WA-based venture capital firm, and Luminate NY, the world’s only optical, photonics, and imaging accelerator. Even in a challenging financing environment, their partnership expands the importance and potential of Swave’s competitive holographic and photonic solutions. These seeds surround the Swave project well to attract future customers, partners, and investors interested in succeeding in augmented reality and advancing holographic spatial computing.
Investment of Luminate NY from Swave was recently selected as a finalist for the Luminate NY accelerator program and competition. This honor reinforces Swave’s recognition as a winner in the 2023 SPIE Photonics West Startup Challenge and a finalist in the 2023 AWE USA Startup Watch.
“We are deeply gratified by the bolstered commitment of our current investors and are excited to welcome Acequia Capital and Luminate NY to the Swave family,” said Mike Noonen, CEO of Swave Photonics. “This collective vote of confidence in our groundbreaking technology and dedicated team underlines our commitment to revolutionize augmented reality through true holography.”
“We are exceptionally proud of the progress the team at Swave Photonics has made to date,” said Pieter Vorenkamp, Chairman of Swave Photonics and a distinguished leader in emerging technology operations. “The innovative holographic technology developed by Swave is the result of their technical leadership and shared dedication to driving forward the boundaries of what’s possible. I am confident this technical prowess will soon translate into operational excellence as we transition the technology into products, enabling mass-volume augmented reality applications. The future of holography lies in the hands of this outstanding team, and we’re excited to be a part of this journey.”
Follow us on LinkedIn
Read other Articles
