Portfolio company PhiX enters next growth phase
PHIX is ready for the next phase of growth through additional investments and expansion of facilities
The growth of integrated photonics
Since the start of operations in 2018, PHIX has been building functional modules based on customer PICs (Photonic Integrated Circuits). In just a few years, THey established themselves as one of the world leaders in this crucial position in the integrated photonics ecosystem. As the volumes of PICs are increasing, they are preparing for the next phase of growth to support their customers and the further industrialization of PIC based technologies in Europe.
New investment round
To continue the rapid growth trajectory, PHIX secured a new investment of €3 million that is split between €1.5 million in equity and €1.5 million in loans for new equipment. Only existing shareholders participated, demonstrating our confidence in PHIX’s growth and results. With the investment PHIX is able to further develop its automated packaging capabilities and increase capacity to continue to support the rapid growth of their existing and new customers.
National Growth Fund
As cornerstone of the PhotonDelta integrated photonics ecosystem, PHIX secured €20 million from the National Growth Fund (Nationaal Groeifonds). The photonics program involves a total investment of €1.1 billion to build 200 start-ups, scale up production, create new applications for photonic chips, and develop infrastructure and talent. Within this program PHIX takes a key role by being responsible for the industrialization of packaging and photonic chip assembly, in support of the broader Dutch ecosystem. The €20 million subsidy that PHIX receives in the program is part of a bigger growth plan of €40 million in the next 5 to 6 years, mainly to be invested in scaling of production.
New building
To support further industrialization and scaling of operations, PHIX will move to a new building in the Enschede Kennispark in the first quarter of 2023. The building with 1800 square meters of floor space on Hengelosestraat will be renovated to make room for at least 600 square meters of production facilities and 600 square meters of auxiliary workspaces, with plenty of room for expansion. The production facilities will house up to ISO 5 cleanrooms to ensure optimal working environments for the various stages of photonics assembly.
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