PhoeniX Software, a provider of software design tools for photonics, electronics and nanotechnologies, has secured an investment from the Twente Technology Fund.
The company plans to use the investment to accelerate its growth in the field of integrated photonics, where it offers circuit design and simulation tools for a range of materials systems (including silicon photonics, indium phosphide, TriPleX and others).
With the investment, PhoeniX Software has said that it will be able to include extra features and capabilities in its OptoDesigner software.
PhoeniX Software also plans to expand its strategic collaborations with foundries, design houses and software vendors and actively develop new partnerships that will support the industry in the transition from early market adoption to volume manufacturing.
Nard Sintenie, general partner of the Twente Technology Fund said: "The market of integrated photonics is about to take off and the design support tools of PhoeniX Software are considered to be best in class. Our investment enables PhoeniX Software to capitalise on its leadership position and help shape this emerging industry."
The Twente Technology Fund is an independent venture capital fund that supports high-tech start-ups in the Twente region in the Netherlands, where PhoeniX Software is located. Although the amount of funding was not disclosed, Twente Technology will typically invest between €2-3 million in total per company shared across different investment rounds.
Twan Korthorst, PhoeniX Software's CEO said: "After three consecutive years of solid growth, we observed a window of opportunity to further push our design methodologies and tools into the exciting integrated photonics industry. The Twente Technology Fund appeared to be the partner with the right focus and background to support us in this development."