AEPONYX, a Montreal-based micro-optical switch provider, has closed a Series A financing of $7.9 million CAD, led by Pangaea Ventures. The round includes current investors Fonds InnovExport and Ecofuel Fund, as well as private investors.
“We can now accelerate the commercialization of technology driving energy efficient innovation and positive environmental impact.”
This funding will be used by AEPONYX to accelerate the commercial production of its planar micro-optical switch chips which combines silicon photonics with Micro-Electro-Mechanical-Systems (MEMS). This Series A round brings its total funds raised to $18 million.
“With the support of round leader Pangaea and previous investors, we can now accelerate the commercialization of technology driving energy efficient innovation and positive environmental impact,” said Philippe Babin, CEO of AEPONYX.
Founded in 2011, AEPONYX designs and manufacturers fabless micro-optical switch semiconductor chips for fibre optic access to the cloud. AEPONYX is an alumnus of Silicon Catalyst, the world’s first incubator focused exclusively on semiconductors.
AEPONYX is currently part of the CenTech incubator, a Montreal accelerator with a primary focus on hardware and deep tech. In 2016, it graduated from Ecofuel, a Cycle Capital Management-founded accelerator dedicated to growing cleantech startups. In 2016, the company was selected by Sustainable Technology Development Canada as part of $45 million investment to support 17 cleantech startups across Canada.
The company aims to build the fastest, most affordable, and smallest micro-optical switches in order to promote reduced energy consumption. The company says its developments could create new opportunities for optical circuit switching and a new generation of tunable transceivers, increasing the capacity on both ends of the optical fibre while lowering power consumption.
“This funding, combined with the deep expertise of our partners pave[s] the way for us to redefine switching technology for next-generation fibre optic telecommunications access networks, data centers, and 5G mobile networks which, combined, represent a multibillion-dollar opportunity,” said Babin.
Image courtesy Pixabay.