Montreal-based Aeponyx, a developer of advanced integrated photonics with micro-electromechanical system products, has raised C$10 million in financing. The round, which brings total funding to C$40 million, was backed by Fonds Ecofuel, BDC Capital, Investissement Québec, Pangaea Ventures and Fonds Innovexport.
Montreal, March 15, 2021
With the growing 5G networks, such as the 5G-enabled iPhone12 and Ericsson recently announcing over 200 million global 5G subscribers, AEPONYX continues to build out its 5G product portfolio with the closing of a $10M new funding round. All previous investors supported this round, with Investissement Quebec joining as the new investor. This adds to AEPONYX’s previous $30M funding and enables the company to move faster.We are delighted to bring innovative products to the 5G market.
The creation of our integrated photonics with MEMS products enable the Telecom industry to advance their next-generation networks. With the 5G adoption rate eclipsing where 4G was at this point in time, we see tremendous growth potential. – Philippe Babin, CEO of AEPONYX.
For AEPONYX and 5G, it’s all about moving data with fiber optics. These faster networks are needed to carry all the traffic we generate and use. AEPONYX’s integrated photonics innovations combined with their fast-tuning and ultra-small MEMS devices are well suited to advance Telecom. “While our technology works beautifully in quantum computing, LiDAR, and sensors, we are targeting Telecom as our first market vertical” says Babin.
The company has focused its previous funding rounds on product and test development and is excited to advance its Telecom portfolio with this latest round. Participants in this funding round were Fonds Ecofuel, BDC, Investissement Québec, Pangaea Ventures, and Fonds Innovexport. “These optical devices, combining high data rates with being quite small in size, are exactly what the market is looking for to advance the global 5G infrastructure significantly” stated Richard Cloutier, Managing Partner at Ecofuel Fund.