PhotonFirst successfully closes €11 million Series A funding03 December 2021
PhotonFirst International, a leading pioneer in integrated photonics sensing solutions for advanced applications, announced to have successfully closed its Series A funding. Jointly, their largest shareholder, Amsterdam-based private equity firm Active Capital Company, and new investor PhotonDelta have committed 11 million euros to fund the 5-year business plan of the company. The company, based in the Dutch cities of Eindhoven and Alkmaar, announced the steps in a press release.
Simultaneously, Board members Ilko Bosman (CFO) and Daan Kersten (CEO) have co-invested and the entire PhotonFirst team will participate through a phantom stock program. The majority of the investment will be used for next-generation technology & product development and expansion of the commercial footprint worldwide. The deeptech company plans for an IPO in 2025 as a global innovation leader based on its 15-year heritage in integrated photonics.
“We are grateful and proud that both Active Capital Company and PhotonDelta have confirmed our ambitious 5-year plan and team-up with us to successfully execute on it”, Daan Kersten, CEO said. “As proven solid partners, we have the backing that will allow us to focus on accelerating our commercial efforts while continuing to build on our technology”, added Ilko Bosman, CFO of PhotonFirst.
“We believe in the vision and strategy of PhotonFirst and see great potential in scaling the technology”, said Victor Schols, partner of Active Capital Company. “The Board has demonstrated their execution power and is on track to deliver on the plan, we are confident our funding allows them to accelerate and expand.”
“PhotonFirst is a global frontrunner in integrated photonics sensing solutions”, concluded Ewit Roos, CEO of PhotonDelta. “This company represents perfectly what the PhotonDelta ecosystem is all about: inventing, developing, and manufacturing world-class products that make a difference. We are proud to invest in this team and become part of their success.”