Swave Photonics secures €27m in Series A to drive true holographic displays in augmented reality

Swave Photonics, a leading innovator in true holographic display technology, has successfully closed a €27 million ($28.27 million) Series A funding round. This investment is set to propel the company’s Holographic eXtended Reality (HXR) platform, a groundbreaking solution aimed at addressing long-standing challenges in augmented reality (AR) experiences. The funding round was co-led by imec.xpand and SFPIM Relaunch, with participation from notable investors, including EIC Fund, IAG Capital Partners, and Murata Electronics North America, Inc., alongside existing supporters such as Qbic Fund, PMV, imec, and Luminate.

Revolutionizing Augmented Reality with True Holography

Swave Photonics, founded in 2022 as a spin-out from the nanotechnology research hub imec, has set out to redefine AR with its HXR platform. Unlike conventional AR devices, which rely on costly and cumbersome components like waveguides and varifocal lenses, Swave’s proprietary technology uses the world’s smallest pixels to sculpt light into natural, high-resolution 3D images. This innovation creates a reality-first experience, allowing digital content to interact seamlessly with a user’s environment.

According to Swave’s CEO, Mike Noonen, the new funding will accelerate the company’s ability to launch its product development kits and transition to production devices. He noted that the HXR platform addresses critical AR limitations, including high costs, significant power consumption, and the discomfort caused by visual phenomena like the Vergence-Accommodation Conflict, which often leads to nausea and fatigue for users.

A Leap Forward in Spatial Computing

The HXR platform’s integration of holography, artificial intelligence, and advanced semiconductor technology is expected to drive a new era of spatial computing. Swave’s Chief Product Officer, Theo Marescaux, explained that the company is co-designing every element of its AR solutions, from its cutting-edge holographic spatial light modulators (SLMs) to real-time compute chips and AR combiners. This approach ensures an optimised user experience while reducing the size, weight, and power demands of AR devices.

Marescaux further highlighted that AR glasses are poised to become the primary interface for AI-driven applications, making Swave’s innovations a critical enabler of this future.

From Prototypes to Commercialisation

Swave’s achievements thus far include completing prototype designs and running silicon chips at partner fabrication facilities. Dmitri Choutov, the company’s Chief Operating Officer, confirmed that the Series A funding positions the company to deliver on its vision of introducing product development kits in the near term, followed by production-ready devices.

Swave’s journey began with a €10 million seed round in 2023, which enabled the company to assemble a world-class team of experts in photonics and semiconductors. With over a decade of research and 60 core technology patents underpinning its work, Swave has consistently pushed the boundaries of what AR can achieve.

Recognition and Industry Impact

The company’s innovative approach has earned it industry recognition, including a CES Innovation Award for its HXR platform, announced in 2024. The platform has already demonstrated its capabilities with the world’s first true colour holographic display, setting a new benchmark for AR experiences.

By eliminating the limitations of existing AR technologies, Swave’s HXR platform is expected to catalyse the adoption of AR devices across industries, from entertainment and education to enterprise and healthcare. Its cost-effective, scalable manufacturing process, leveraging CMOS chip technology, ensures that these innovations can reach a broad market without compromising on quality or usability.

Paving the Way for the Future of AR

Swave Photonics’ advancements come at a pivotal time for AR, as demand for AI-powered smartglasses and heads-up displays continues to grow. By solving critical technical challenges and offering a natural, immersive user experience, Swave is poised to become a leader in the next generation of AR interfaces.