Leuven-based Swave Photonics, the pioneering fabless semiconductor spin-out from imec, has clinched an extra €6 million in follow-on funding to its January 2025 Series A round. The injection was led by existing investor IAG Capital Partners and features a high-profile participation from Samsung Ventures.
“This follow-on investment demonstrates that there is tremendous excitement for the emerging Spatial + AI Computing era,” said Mike Noonen, CEO of Swave Photonics, underlining the high expectations placed on their next-gen spatial computing platform. “These funds from our existing investor IAG Capital Partners and new investor Samsung Ventures will help Swave accelerate the commercialisation and application of our novel holographic display technology at the heart of next‑generation spatial computing platforms.”
Founded in 2022 and rooted in imec’s photonics expertise, Swave crafts Holographic eXtended Reality (HXR) chips via CMOS- based diffractive photonics. Their technology sculpts lightwaves into compact, natural 3D images—boasting the “world’s smallest pixel”—and eradicates the costly waveguide and varifocal components that burden current AR devices. The result: sleeker, lighter smart glasses with immersive visuals and lower power use.
This latest capital follows on their €27 million Series A in January 2025 and €10 million seed in 2023, fortifying Swave’s roadmap to refine HXR chipsets and ramp up commercial outreach. Coinciding with the funding, Swave also named Derek Jensen—formerly CFO of SK Growth Opportunities Corp.—as CFO and Head of Corporate Development. “Swave is building breakthrough technology that will accelerate the adoption of smartglasses and other emerging spatial computing form factors,” Jensen remarked. His strategic and financial leadership arrives at a “pivotal moment” for Swave’s expansion.
🧠 Editorial Perspective: Why Swave Photonics Matters
Swave Photonics is charting a compelling course in the AR landscape. True holography—the ability to sculpt light naturally, reducing vergence-accommodation conflict—is a technology that researchers have sought for decades. Swave’s chip-scale HXR offers not just a scientific breakthrough, but a scalable, manufacturable platform thanks to its CMOS foundation and diffractive photonics design reddit.com+9businesswire.com+9swave.io+9.
Their timing is strategic: as AR smart glasses strive to become mainstream, Swave’s waveguide-free architecture confronts the core challenges hampering user adoption—size, comfort, power efficiency, visual fatigue. With backing from deep-pocketed and strategically aligned investors like Samsung Ventures, the firm is well-positioned to leap from prototype to production kits, and eventually, consumer-ready form factors.
This round also signals robust investor confidence. IAG Capital Partners, known for steering emerging hardware for spatial computing, and Samsung Ventures—an early funder in display and semiconductor innovation—both doubling down reflects a strong belief in Swave’s potential to redefine visual computing. It’s more than just a funding milestone; it’s a clear signal that the industry sees holographic AR as ready for prime time.
Swave is shaping up to be a key player in the next wave of spatial-AI devices. With a veteran leadership team, powerful tech, and now renewed financial and strategic backing, the company is navigating the right trajectory toward revolutionizing how we interact with mixed reality.
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