INDUSTRY NEWS
Nokia first broadband manufacturer for U.S. BEAD programme
PhotonVentures raises €60 million to boost Euro photonics startups
startups and scale-ups. PhotonVentures is an independent deep tech venture capital firm that has emerged from PhotonDelta, the force behind the Dutch
technology that is built in the U.S. is an important requirement for states and infrastructure players seeking to participate in BEAD and the US$42.45 billion of available funding allocated for broadband rollouts to unserved and underserved communities. Nokia fibre-optic broadband products manufactured in the U.S. will include an OLT (Optical Line Termination) card for a modular Access Node; a small form factor OLT; OLT optical modules; and an “outdoor-hardened” ONT (Optical Network Terminal).
Netherlands-based PhotonVentures has
Nokia has become the first telecom company to announce the manufacturing of fibre- optic broadband network electronics products and optical modules in the U.S. for use in the Broadband Equity, Access and Deployment (BEAD) program. Nokia says that by manufacturing fibre-optic technology in the U.S., it will be able to supply its products and services to critical projects like BEAD that are focused on narrowing the digital divide, helping to further contribute to the nation’s economic growth and job creation. Having access to
launched a venture capital fund aimed at early-stage photonic chip startups and scale ups. €60 million was raised in its first financing round with PhotonDelta as the lead investor alongside numerous private investors. PhotonVentures plans to raise a total of €100 to €150 million, with its final close set for the start of 2024. It will prioritise Series A rounds, with the aim of providing investments between €1 million - €2.5 million. PhotonVentures’ investment strategy leverages on the Dutch PhotonDelta ecosystem to accelerate European
integrated photonics ecosystem. The two
organisations are strategic partners with the aim of supporting the rapid growth of Europe’s photonics industry. The fund is planning to initially invest in 15 European deep-tech companies that have potential to grow into international winners in their sectors. The startups should have an integrated photonics-based MVP connected to the European ecosystem.
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ISSUE 34 | Q3 2023
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