SMART Photonics Receives €13M Loan
Rabobank finances Eindhoven-based InP foundry to support the scale up of production
SMART Photonics, an Eindhoven-based pure-play InP foundry, has received a new loan worth up to €13M. This financing will be provided by Rabobank and will primarily be used to further support the scale up of production of photonics chips and to strengthen SMART Photonics' role in the growing photonics ecosystem.
“Currently we are shifting gears in our plan to become the leading foundry and development partner for integrated photonics,” CFO Maarten Wellens says. “With this new financing we can accelerate the investment in our manufacturing facilities, new equipment and the needed know-how to keep our leading position. We are looking forward to support an expanding customer base from proof of concept phase up to full production”.
“SMART Photonics is a company that fits perfectly with our Banking for Brainport strategy. We have been involved in SMART Photonics since the start-up phase in 2012. The successful funding round in 2020, led by Innovation Industries, has further strengthened our confidence in the company”, explains Eerke Hoven, Director Corporate Clients at Rabobank. “We facilitate the next phase of growth with our financing. SMART Photonics' key technology, expertise in the field of photonics and high tech and, of course, management have been crucial for Rabobank in this.”
Henri Schellen, Start & Scale-up Banker at Rabobank, adds: “SMART Photonics is a wonderful example of the opportunities that the ecosystem in the Brainport region offers for the regional and national economy. With confidence we look forward to the further growth of SMART Photonics.”
SMART Photonics is based at the High Tech Campus in Eindhoven.