Flemish venture capital firm Imec.xpand has raised €300 million to invest in deeptech startups.
The VC is a spin-off from Leuven-based Imec, one of the world's largest microelectronics research institutes.
The new fund targets AI, semiconductors, nanotechnology, photonics and quantum computing. Investments are also being made in start-ups that are working on new methods for diagnosing and treating diseases.
To date, Imec.xpand has invested in 23 companies, which have raised a total of €1.5 billion in funding to date. These include two unicorns – companies valued at €1 billion or more.
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According to a Dutch newspaper, Imec.xpand recently opened a new office in the Netherlands The Financial Times. They want to focus more on the region, especially Eindhoven – a city known for technical innovations.
The VC has already supported several startups in the region. These include Axelera AI, which makes chips for edge computing, and Philips spinoff Scil, which builds chip-making equipment.
Another Dutch startup in Imec-xpand’s portfolio is Onera. The company develops clinical-grade sleep tests for home use to diagnose disorders such as insomnia.
Advancing semiconductor technology
In this latest fundraising, Imec.xpand is particularly focused on semiconductor development.
“With this fund we want to advance the semiconductor industry by supporting start-ups to bring innovative technologies to market faster,” said Tom Vanhoutte, partner at the VC firm.
“The combination of our venture capital and international network helps unicorns grow in the global race for semiconductor supremacy.”
In September, Europe adopted the Chips lawwhich aims to double the bloc's global semiconductor market share from 10% to 20% by 2030. The Netherlands, home of ASML – dem only manufacturer in the world of devices for the most advanced chips – will certainly play a central role in this push.
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