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Swave Photonics
Holographic eXtended Reality chips for immersive displays
About Swave Photonics
Swave Photonics is a fabless semiconductor company that designs and markets holographic chips founded in 2022 as a spin-off from the research and innovation hub Imec. The company's founders are Dmitri Choutov (COO) and Theodore Marescaux (CPO). In November 2022, semiconductor industry veteran Mike Noonen was appointed CEO to lead the company's next growth phase.
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Swave Photonics is focused on commercializing its Holographic eXtended Reality (HXR) technology, which is based on proprietary diffractive photonics. This technology enables the creation of lifelike, high-resolution 3D images viewable with the naked eye, aiming to make virtual reality nearly indistinguishable from the real world. The HXR chips feature the world's smallest pixels, with a pixel pitch of less than 300nm, which allows them to sculpt light and produce high-quality 3D holographic images. The technology is designed to solve common issues in current augmented reality experiences, such as the vergence-accommodation conflict, which can cause nausea and fatigue for users. Manufactured using standard CMOS processes, the chips are scalable and cost-effective.
The company's business model is fabless, meaning it designs the chips but outsources manufacturing. Swave's primary clients are display manufacturers and content creators in the augmented reality (AR), virtual reality (VR), and extended reality (XR) markets. Its products include the Holographic eXtended Reality (HXR) chip, a spatial light modulator designed for digital holography and AI-powered spatial computing. Swave offers product development kits for device manufacturers to design and prototype new hardware. Applications for Swave's technology are extensive, including AR smart glasses, automotive heads-up displays (HUDs), collaborative video conferencing, and 3D gaming.
Swave Photonics has secured significant funding to advance its technology. The company raised a €10 million seed round in 2023, following an initial €7 million in 2022. In January 2025, it closed a €27 million Series A round co-led by imec.xpand and SFPIM Relaunch, with participation from investors like the EIC Fund, IAG Capital Partners, and Murata Electronics. An additional €6 million was raised in a follow-on investment from IAG Capital Partners and Samsung Ventures in June 2025. The company has received multiple accolades, including a CES Innovation Award for its HXR platform.
At a glance
- Status
- Operational
- Founded
- 2022
- Headquarters
- Leuven, Belgium
- Employees
- 46
- Open positions
- 1
- Dealroom signal
- 84.9/100
- Sector
- Semiconductors, Immersive Technologies, Spinout, EIC, EIC Fund, Future of Computing, AR Hardware, Semiconductor Designers and Manufacturers, Photonics Tech
- Technology
- Hardware, Deep Tech, Augmented Reality, Virtual Reality
- Business model
- Manufacturing
- Client focus
- b2b
Knowledge graph
More headlines
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| SERIES AOther financing | Jun 2025 | $6.6M | $149M | Samsung Ventures · IAG Capital Partners | ↗ |
| SERIES AOther financing | Jan 2025 | $30M | $119M | Qbic Fund · IAG Capital Partners · EIC Fund · Murata Electronics | ↗ |
Growth signals
Latest recorded traffic for Swave Photonics is 4.7K monthly website visits, down 19% over the last three months. Swave Photonics's team grew 15% over the past year.
Open positions
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Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed6 investors entered at this stage
imec.xpand- FTFlanders Future Techfund
Qbic Fund
European Innovation Council
Acequia Capital
Luminate Accelerator
Series A7 investors entered at this stage
EIC Fund
SFPIM
IAG Capital Partners
Murata Electronics
imec
PMV
Samsung Ventures
Other known investors1 additional known investor
Vrije Universiteit Brussel
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Swave Photonics on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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