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The Dutch government and ASML are pumping millions into the chip promise
(Jan De Schamphelaere)
Today at 08:53

Smart Photonics is working on a new chip technology and is collecting 100 million euros in fresh money from, among others, the Dutch government and giants in the chip industry such as ASML and NXP.

Smart Photonics raises 100 million euros in capital, writes the Financieele Dagblad. The company is based in Eindhoven, the Dutch epicenter of the tech industry.

Smart Photonics specializes in the development of photonic chips, a fairly new domain in the chip industry. Photonic chips transfer information via light particles or photons instead of via electrons as in classic chips. That would be more economical and faster, opening up the prospect of new breakthroughs in all kinds of domains, ranging from the medical world to self-driving cars and quantum computers.

The chip company was founded in 2012 as a spin-off of Eindhoven University of Technology and Philips. A first really large investment round came three years ago. At that time, investors and the Dutch government already pumped 35 million euros into Smart Photonics at a time when the Chinese were lurking.

Billion dollar pot

Now there will be another 100 million euros in growth money. The company will receive 60 million euros from the National Growth Fund, a billion-dollar pot from the Dutch government for investments to make the economy future-proof. The amount indicates that the Netherlands is serious about remaining a forerunner in the chip industry.

In addition to the Dutch government and investment funds, several industrial powerhouses are also putting money on the table: ASML, NXP and VDL Group. ASML is a Dutch crown jewel and a world power in advanced machines to produce chips. NXP, on the other hand, is a chip producer with a market capitalization of more than 50 billion euros. VDL Group is a Dutch industrial group with activities in the chip industry.

Smart Photonics has improved the production process for the photonic chips in recent years and will further optimize this with the fresh money. The operating base remains the High Tech Campus in Eindhoven. A new, larger plant in the medium term can require investments of hundreds of millions. An IPO at a later stage is one of the options for financing this.

Translated by means of Google Translate
Source: De Tijd (Flemish newspaper)
https://www.tijd.be/ondernemen/technologie/nederlandse-overheid-en-asml-pompen-miljoenen-in-chipbelofte/10480217.html