# Swave Photonics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/swave-photonics

- Industry: Semiconductors
- Headquarters: Leuven, Belgium
- Website: www.swave.io
- Total disclosed funding: $43M
- Latest round: Series A (Jun 15, 2025)
- Investors on record: 13

## About

Founded in 2022 and based in Leuven, Belgium, Swave Photonics, a.k.a Swave.io operates as a fabless semiconductor company that creates and sells Holographic eXtended Reality (HXR) technologies to make the metaverse a reality. In June 2026, Swave Photonics raised EUR 6 million in series A funding led by returning investor IAG Capital Partners, with participation from new investor Samsung Venture Investment. Other unspecified investors also participated in the round. The firm, as of Janauary 2024, is led by its CEO, Mike Noonen, Dmitri Choutov (founder and COO), and Theo Marescaux (founder and CPO). The company's chip serves as a Spatial Light Modulator, leveraging the world’s smallest pixels (under 300nm) to deliver real holographic displays suitable for augmented reality (AR) applications. The HXR technology is designed to blend virtual and natural environments, providing end-users with immersive experiences in various use cases, including navigation and visual search. The company's products are targeted towards manufacturers of AR glasses, aiming to enhance user experiences by offering lightweight, prescription-compatible solutions, eliminating issues like waveguides and varifocal lenses. The company will use the June 2025 funding to accelerate the commercialization of novel holographic display technology.

## Funding rounds

- Series A, Jun 15, 2025, $6.9M — PMV, Samsung Venture Investment, Qbic Fund, Imec.xpand, IAG Capital Partners, European Innovation Council
- Series A, Dec 30, 2024, $26M — PMV, Murata Manufacturing Co., Ltd., Qbic Fund, Luminate, Imec.xpand, IAG Capital Partners, European Innovation Council, Federal Holding and Investment Company, imec
- Seed, Jun 15, 2023, $3.4M — Flanders Investment & Trade, Acequia Capital, Qbic Fund, Imec.xpand, Luminate NY Accelerator
- Seed, Jun 30, 2022, $7.3M — Flanders Investment & Trade, Qbic Fund, Imec.xpand

## Investors

- Flanders Investment & Trade — Seed
- Qbic Fund (https://capitalatlas.ai/funds/qbic-fund) — Seed, Series A
- Imec.xpand (https://capitalatlas.ai/funds/imec-xpand) — Seed, Series A
- Acequia Capital (https://capitalatlas.ai/funds/acequia-capital) — Seed
- Luminate NY Accelerator — Seed
- PMV (https://capitalatlas.ai/funds/pmv) — Series A
- Murata Manufacturing Co., Ltd. — Series A
- Luminate (https://capitalatlas.ai/funds/luminate) — Series A
- IAG Capital Partners (https://capitalatlas.ai/funds/iag-capital-partners) — Series A
- European Innovation Council (https://capitalatlas.ai/funds/european-innovation-council) — Series A
- Federal Holding and Investment Company (https://capitalatlas.ai/funds/federal-holding-and-investment-company) — Series A
- imec — Series A
- Samsung Venture Investment (https://capitalatlas.ai/funds/samsung-venture-investment) — Series A