Cambridge-based Wave Photonics has achieved a significant milestone in its journey to revolutionize deeptech with a £4.5M (€5.32M) seed funding round. Spearheaded by UK Innovation & Science Seed Fund and Cambridge Enterprise Ventures, this funding will drive the development of cutting-edge on-chip photonics designs aimed at quantum technologies, sensors, and data centers.
Dr. Christine Martin, Head of Ventures at Cambridge Enterprise, emphasized the strategic importance of integrated photonics, underscoring its potential to disrupt sectors from quantum computing to healthcare diagnostics. She highlighted Wave Photonics’ pivotal role in accelerating the adoption of next-generation integrated photonics products.
Integrated photonics leverages scalable semiconductor processes to create light-based circuits that enhance communications, healthcare sensors, optical processors, and quantum technologies. Unlike traditional semiconductor chip processes, the journey from concept to mass production for photonic integrated circuits (PICs) has historically been arduous and costly.
Wave Photonics, founded by Cambridge Quantum Photonics PhDs James Lee and Matthew Anderson, alongside Mateusz Kubica, a seasoned VP in quantitative finance, aims to streamline this process. Their core computational photonics design technology promises to shorten development cycles, making photonics more accessible and commercially viable.
Lee, co-founder, and CEO of Wave Photonics expressed enthusiasm about the funding, noting that it will propel their transition from research to commercialization. The company plans to deploy its technology in critical areas such as quantum technologies and biosensing, addressing pressing industry needs with innovative solutions.
The seed round also included contributions from Redstone QAI Quantum Fund, Kyra Ventures, Parkwalk’s University of Cambridge Enterprise Fund IX, and Deep Tech Labs, supplemented by non-dilutive funding from EIC and Innovate UK grants, bringing Wave Photonics’ total funding to £5.4M.
As Wave Photonics moves forward, it seeks to transform the fragmented productization cycle of photonics into a seamless, integrated process akin to modern semiconductor development. This strategic approach aims not only to unlock new markets but also to establish Wave Photonics as a leader in the burgeoning field of integrated photonics. Source: IEDNewsDesk
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