AEPONYX secures $4.3M seed financing

AEPONYX Inc. has raised $4.3 million in seed funding led by Fonds Innovexport and Ecofuel Fund with participation of private investors.

Montreal based AEPONYX is a micro optical switch leader designing and marketing chips for fiber optic access to the cloud. With its patented technologies, combining planar Micro-Electro-Mechanical-Systems (MEMS) and Silicon Photonics, AEPONYX builds the fastest, most affordable and smallest micro optical switches for tunable transceivers and optical circuit switches.

AEPONYX intend to use new funding to complete the development and industrialization of its revolutionary planar micro optical switch chips based on a unique proprietary platform combining silicon photonics with MEMS.

The seed funding, together with California-based incubator Silicon Catalyst’s in-kind contribution and non-dilutive government financing, brings AEPONYX’s total funding to date to $10 million.

“AEPONYX has exceptional potential to revolutionize fiber optic communications and to accelerate the transition to the new, faster and more efficient global NG-PON2 standard,” said Richard Bordeleau, President of Fonds Innovexport. MEMS and silicon photonics-based micro optical switches dramatically increase the speed of large-scale telecommunications systems and reduce the energy needs of data centers. “The AEPONYX team, led by CEO Philippe Babin, is impressive,” added Bordeleau. “Philippe was able to rapidly build a strong network of partners and investors to support AEPONYX’s growth.”
“AEPONYX is a tangible example of how an energy efficient innovation can have a positive impact on the environment,” said Richard Cloutier, Managing Partner of the Ecofuel Fund. “We are happy to partner with AEPONYX and work with Philippe and the management team to build on this momentum to execute the company’s business plan.”

“We are delighted to count Fonds Innovexport and Ecofuel Fund as part of our investor consortium,” explained AEPONYX CEO, Philippe Babin. “Beyond financing, they also provide the continuous support and guidance needed to capitalise on this global opportunity. The level of our technological innovation is at par with leading platforms in the fast-growing markets that can leverage it,” he added, “including next-generation fibre optic telecommunications access networks, datacenters, and 5G mobile networks which, combined, represent a multibillion-dollar opportunity.”

Silicon Catalyst CEO, Rick Lazansky, said “this round of funding is further proof that promising innovative companies such as AEPONYX are now attracting increasing investor attention. Silicon-based solutions like AEPONYX’s planar micro optical switch chips are asserting their central position in the continuing telecom and data center revolution,” added Lazansky.

photo credit: AEPONYX

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.