This article was published on May 3, 2024
The firm is also expanding its presence in the Netherlands, a world leader in chip tech
Flemish venture capital firm Imec.xpand has raised €300mn to invest in deeptech startups.
The VC is a spinoff from Leuven-based Imec, one of the world’s largest microelectronics research institutions.
The new fund targets AI , semiconductors, nanotechnology, photonics, and quantum computing. It will also invest in startups working on new ways to diagnose and treat medical conditions.
To date, Imec.xpand has invested in 23 companies which have so far raised a combined €1.5bn in funding. This includes two unicorns — companies valued at €1bn or more.
Imec.xpand recently opened a new office in the Netherlands, according to Dutch newspaper Het Financieele Dagblad . It wants to focus more on the region, particularly in Eindhoven — a city renowned for tech innovation.
The VC has already supported several startups in the region. These include Axelera AI, which makes chips for edge computing, and Philips spinoff Scil, which builds chip manufacturing equipment.
Another Dutch startup in Imec-xpand’s portfolio is Onera. The company develops clinical-grade sleep tests for home use to diagnose disorders such as insomnia.
With this latest fundraising, Imec.xpand focuses in particular on semiconductor development.
“With this fund, we are dedicated to advancing the semiconductor industry by empowering startups to bring innovative technologies to market faster,” said Tom Vanhoutte, partner at the VC firm.
“ The combination of our venture capital and international network helps unicorns grow amid the global race for semiconductor supremacy.”
In September, Europe passed the Chips Act , which looks to double the bloc’s global market share in semiconductors from 10% to 20% by 2030. The Netherlands, home to ASML — the world’s only manufacturer of equipment for the most advanced chips — is sure to play a central role in this push.
One of the themes of this year’s TNW Conference is Venture: Show Me The Money. If you want to go deeper into what it takes to get your startup funded, discover the next company to back, or simply experience the event (and say hi to our editorial team), we’ve got something special for our loyal readers. Use the code TNWXMEDIA at checkout to get 30% off your business pass , investor pass or startup packages ( Bootstrap & Scaleup ).
Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com