AEPONYX, the world’s emerging in micro optical switches, announced the closing of its Series A financing of CAD 7.9 million.
Led by Pangaea Ventures, the world in advanced materials venture capital, the CAD 7.9 million financing includes current investors Fonds InnovExportand Ecofuel Fund, as well as private investors. This funding enables AEPONYX to ramp up commercial production of its revolutionary planar micro optical switch chips based on a unique proprietary platform combining silicon photonics with Micro-Electro-Mechanical-Systems (MEMS).
The funding, aggregated to previous investments, in-kind contributions of California-based incubator Silicon Catalyst and to non-dilutive government financing, now reaches CAD 18 million.
“With the support of round Pangaea and previous investors, we can now accelerate the commercialization of technology driving energy efficient innovation and positive environmental impact”, says Philippe Babin, CEO of AEPONYX. “This funding, combined with the deep expertise of our partners, pave the way for us to redefine switching technology for next-generation fibre optic telecommunications access networks, datacenters, and 5G mobile networks which, combined, represent a multibillion-dollar opportunity.”
“The world’s large-scale telecommunications networks need to substantially increase their capacity, while at the same time, reducing energy consumption and cost”, said Purnesh Seegopaul, General Partner of Pangaea Ventures. “We expect that AEPONYX’s MEMS and silicon photonics-based micro optical switches to revolutionize fiber optic communications and to accelerate the transition to the new, faster and more efficient global NG-PON2 standard.”
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