AEPONYX closes CAD 4.3 million financing round

Photonics in Motion

AEPONYX closes CAD 4.3 million financing round

Part of a total CAD 10 million investment to redefine next generation telecom technology

Montreal, Canada – December 17th, 2017 – AEPONYX, the world’s emerging leader in micro optical switches, today announced a seed financing round of CAD 4.3 million led by Fonds InnovExport and Ecofuel Fund, in collaboration with private investors. This funding enables AEPONYX to complete the development and industrialization of its revolutionary planar micro optical switch chips based on a unique proprietary platform combining silicon photonics with micro-electrical-mechanical-system (MEMS).

The funding, aggregated to the California-based incubator Silicon Catalyst’s in-kind contribution and to secured non-dilutive government financing, completes AEPONYX’s total investment of CAD 10 million for ramp-up of production by 2019.

“AEPONYX has exceptional potential to revolutionize fiber optic communications and to accelerate the transition to the new, faster and more efficient global NG-PON2 standard,” said Richard Bordeleau, President of Fonds Innovexport. MEMS and silicon photonics-based micro optical switches dramatically increase the speed of large-scale telecommunications systems and reduce the energy needs of data centers. “The AEPONYX team, led by CEO Philippe Babin, is impressive,” added Bordeleau. “Philippe was able to rapidly build a strong network of partners and investors to support AEPONYX’s growth.”

“AEPONYX is a tangible example of how an energy efficient innovation can have a positive impact on the environment,” said Richard Cloutier, Managing Partner of the Ecofuel Fund. “We are happy to partner with AEPONYX and work with Philippe and the management team to build on this momentum to execute the company’s business plan.”

“We are delighted to count Fonds Innovexport and Ecofuel Fund as part of our investor consortium,” explained AEPONYX CEO, Philippe Babin. “Beyond financing, they also provide the continuous support and guidance needed to capitalise on this global opportunity. The level of our technological innovation is at par with leading platforms in the fast-growing markets that can leverage it,” he added, “including next-generation fibre optic telecommunications access networks, datacenters, and 5G mobile networks which, combined, represent a multibillion-dollar opportunity.”

Silicon Catalyst CEO, Rick Lazansky, said “this round of funding is further proof that promising innovative companies such as AEPONYX are now attracting increasing investor attention. Silicon-based solutions like AEPONYX’s planar micro optical switch chips are asserting their central position in the continuing telecom and data center revolution,” added Lazansky.

About Fonds Innovexport

Based in Quebec City, Fonds Innovexport invests in start-up companies headquartered in the Province of Quebec and dedicated to the development and commercialisation of innovative products or services with strong export potential. Innovexport comprises twenty-five experienced entrepreneurs, as well as the Government of Quebec represented by Investissement Québec, the Fonds Espace CDPQ de la Caisse de dépôt et placement du Québec, Desjardins – Innovatech, the Fonds de solidarité FTQ, and Fondaction CSN. Innovexport benefits from the financial support of the City of Quebec under its Economic Development Strategy Program.

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About Ecofuel

Ecofuel is a venture capital fund and a specialized and personalized accelerator dedicated to cleantech startups. Ecofuel, powered by Cycle Capital, works with entrepreneurs to help build globally competitive companies. The Ecofuel Fund invests smart money in seed and early stage startups that develop and commercialize clean technologies while the Ecofuel Accelerator offers entrepreneurs training workshops, networking sessions, an experienced mentor ecosystem.

With $30M in assets under management, the Ecofuel Fund, co-founded by Cycle Capital, is sponsored by Investissement Québec, acting as mandatory of the Government of Québec, BDC Capital, the investment arm of the Business Development Bank of Canada (BDC), Fondaction, the Fonds de solidarité FTQ and the Centre Québécois de valorisation des biotechnologies (CQVB).

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About Silicon Catalyst

Silicon Catalyst is the only incubator focused exclusively on solutions in silicon, building a coalition of in-kind and strategic partners to dramatically reduce the cost and complexity of development. With a world-class network of mentors to advise startups, Silicon Catalyst is helping startups address challenges moving from idea to realization. The incubator/accelerator supplies startups with facilities, a path to funding, tools, networking and marketing acumen to successfully launch their companies’ novel technology solutions.  Silicon Catalyst was the recipient of the prestigious 2015 ACE Award for Start-Up Company of the Year.

For more information, visit here.