imec.xpand and SFPIM Relaunch co-lead funding round to advance Swave’s technology, addressing challenges in today’s augmented reality experiences.
Swave Photonics, the holographic display company, has announced the successful closure of its €27M ($28.27M) Series A funding round. This substantial investment will accelerate the advancement of Swave’s Holographic eXtended Reality (HXR) platform, enabling an AI-powered, reality-first user experience for augmented reality (AR) smartglasses and heads-up displays.
Swave Photonics has successfully closed a €27M Series A funding round. This major investment will support the continued development of Swave's HXR technology, a breakthrough in AR display solutions.
The funding round was co-led by imec.xpand and SFPIM Relaunch, with contributions from new investors EIC Fund, IAG Capital Partners, and Murata Electronics North America, Inc., along with continued support from existing investors Qbic Fund, PMV, imec, and Luminate.
While the company has not publicly disclosed its current valuation, the strong participation from both new and existing investors underscores confidence in Swave's long-term potential.
The AR industry is on the verge of becoming a primary interface for AI-powered spatial computing and digital interaction. Current AR devices face challenges such as high costs, bulky form factors, and power inefficiency, as well as user discomfort from visual effects like Vergence-Accommodation Conflict.
Swave’s HXR technology, built over more than a decade of research, addresses these challenges with its DynamicDepth technology and holographic displays using the world’s smallest pixels.
“AR glasses are set to become the primary interface for AI-powered spatial computing and other applications, and Swave is uniquely positioned to enable this future,” - Theo Marescaux, Swave Co-founder and Chief Product Officer.
Founded in 2022 as a spin-out from imec, Swave Photonics develops reality-first spatial computing chipsets powered by AI-driven HXR technology. The company is led by CEO Mike Noonen, Co-founder and CPO Theo Marescaux, and COO Dmitri Choutov.
The Series A funding will accelerate the development and commercialization of Swave’s HXR platform. The company plans to introduce product development kits and, shortly after, production devices.
With silicon running at its partner fabs, Swave aims to deliver cost-effective, scalable AR solutions. The company also plans to eliminate reliance on costly components like waveguides and varifocal lenses, positioning itself as a leader in the AR display market.
With over 60 core technology patents and more than a decade of development, Swave’s innovations have set industry benchmarks. In April 2024, the company announced its HXR platform, achieved the world’s first true color holographic display, and earned recognition with a CES Innovation Award for 2025.
Swave Photonics develops chipsets for AI-powered spatial computing, delivering reality-first holographic experiences. Its Holographic eXtended Reality (HXR) technology sculpts lightwaves into natural, high-resolution images for a seamless user experience. Founded in 2022 as a spin-out from imec, Swave leverages CMOS chip technology for scalable and cost-effective commercialization.
The Swave team will be present at CES 2025 in Las Vegas, Nevada, from January 7 to January 10, 2025. To schedule a meeting, interested parties can email hey@swave.io.
