SPhotonix, a rapidly progressing deep tech startup, has successfully secured $4.5 million in an over-subscribed pre-seed round. This initial funding, led by the Creator Fund and XTX Ventures, will enable SPhotonix to expand its photonics and engineering teams to meet the surging demand in advanced optics and data storage.
At the heart of SPhotonix's innovation is its 5D Memory Crystal technology, developed over two decades by Chief Scientific Officer Prof. Peter Kazansky. The company achieved a significant milestone by storing vast amounts of data, including the human genome and Wikipedia, on a small crystal, ensuring lasting data preservation.
Funding will propel the scaling up of operations and help in addressing the increasing need for durable and sustainable data storage solutions. Ilya Kazansky, CEO, expressed enthusiasm about the strategic partnerships formed with leading investors and the potential to advance their technology.
The capital injection allows SPhotonix to recruit leading specialists to finalise development stages and bring its technology to global data centres. The funding effortlessly complements their Swiss R&D lab launched recently, empowering SPhotonix to continue its mission to make data storage scalable and cost-effective for burgeoning storage needs globally.
The startup's proprietary FemtoEtch™ technology is already proving beneficial across industries such as aerospace, microscopy, and semiconductor manufacturing. This further substantiates SPhotonix's potential in addressing the rises in global data generation.
With a massive 133% surge in data production in recent years, the market for cold data storage is projected to reach over $400 billion by 2030. SPhotonix is set to lead the charge with its pioneering optical data storage solutions, offering innovative methods to tackle these mounting challenges.
Anticipation is high for SPhotonix to announce future partnerships that will further accelerate their growth, with support from the Creator Fund, known for investing in groundbreaking research startups, and XTX Ventures, which focuses on AI and machine learning technologies.
Notably, SPhotonix's achievements, such as their appearance in a major film and their provision of precise test targets for global R&D labs, highlight their unique standing as innovators and executors within photonics.
