Paris-based NcodiN secures €16M to support the next stage of its chip communication technology and prepare for industry testing and partnerships.
Contentlockr
Paris-based NcodiN, a deeptech startup redefining how chips communicate, has raised €16M in an oversubscribed Seed funding round to advance its optical interposer technology with integrated nanolasers.
The round was led by Germany’s MIG Capital. Maverick Silicon, PhotonVentures, and Verve Ventures also joined, along with existing investors Elaia, Earlybird, and OVNI.
Josh Miner of Maverick Silicon says, “Memory bandwidth has become a defining bottleneck in AI, with copper interconnects struggling to deliver the reach and efficiency required for next-generation systems. NcodiN’s photonic interposers unlock memory bandwidth and capacity beyond copper’s limits. We are excited to support NcodiN as they enable architectures that will define the future of AI hardware.”
Capital utilisation
NcodiN will use the funds to support its shift from research work to industrial production. The company plans to advance product development, add engineering roles for work on a CMOS pilot line using 300 mm wafers, and build its supply chain and customer network.
The funding will also allow NcodiN to open a Silicon Valley base, increase its R&D operations, and grow its team as it prepares for large-scale manufacturing agreements. The company aims to introduce technology that moves beyond copper limits in data links and alters the performance path of AI hardware.
Francesco Manegatti, CEO and Co-founder, NcodiN, says, “This funding marks a pivotal milestone for NcodiN. We are delivering the missing piece for the industry’s most pressing challenge: enabling extremely high memory bandwidth to power the AI factories of tomorrow.”
“Our technology unlocks wafer-scale superchips by providing the most energy-efficient interconnects for networking across tens of chiplets – an essential component in the architectures everyone is chasing. As new generations of GPUs and AI accelerators emerge to keep pace with rapidly evolving GenAI algorithms, NcodiN is laying the photonic foundation that makes them possible.”
Redefining how chips communicate
Founded in 2023 by Francesco Manegatti, Bruno Garbin and Fabrice Raineri, NcodiN is developing NConnect, a photonic interposer platform designed to bypass the “copper wall,” a term used to describe performance and energy limits in electrical connections within AI hardware.
The company integrates nanolasers on silicon to create photonic interposers that carry data through light rather than electrical signals. This approach targets the constraints that arise as processors expand in size and processing load.
NcodiN plans to use new funding to move the platform into industrial testing. The next stage includes a pilot to show that NConnect can operate with the current packaging methods used by chip manufacturers.
During the past 18 months, NcodiN has shown nanolasers, nanodetectors, and complete optical links built on silicon. The company has also set up a cleanroom for prototyping and for joint work with partners that are exploring new interconnect options for AI systems.
NcodiN expands advisors’ network
NcodiN is expanding its advisory network as it builds its optical interconnect platform. The company has brought in figures with long experience in photonics, chip design, and semiconductor operations, including Eli Yablonovitch, Gus Yeung, and Peter de Dobbelaere.
Eli Yablonovitch is a physicist known for work on photonic crystals and for cofounding companies such as Luxtera, Ethertronics, Luminescent, and Alta Devices.
Gus Yeung spent nearly two decades at ARM, where he worked on the growth of the company and on establishing its designs across the CPU market. He later became CTO at Intel Foundry Services, where he worked on internal and external technology programs.
Peter de Dobbelaere has long experience in Silicon Photonics and contributed to Luxtera’s development into a significant player in the field.
The group will support NcodiN as it moves its technology toward industry deployment.
What do the investors have to say?
Eli Yablonovitch, Professor in the Graduate School, UC Berkeley, says, “NcodiN is addressing the next big opportunity in Silicon Photonics, the Silicon Photonic Interposer, which permits high-bandwidth communication in a multi-chip system, particularly for AI and Machine Learning. To do this, they embed high-performance nanolasers in silicon, thereby combining physics elegance with manufacturability. This has the likelihood of revolutionising all future large-scale cyber systems.”
Dr Oliver Kahl, Principal, MIG Capital, adds, “NcodiN is working at the centre of the AI infrastructure market, a sector experiencing rapid, significant growth driven by the surging demand for generative AI, the proliferation of big data, advancements in specialised hardware like GPUs, and the widespread adoption of cloud computing. The company’s ambitious team is shaping and empowering the future of computing to drive innovation across multiple industries. We couldn’t be happier to support them.”
Clément Vanden Driessche, Partner, Elaia, mentions, “At Elaia, we’ve been proud backers of NcodiN since its early days when it was a CNRS spin-off. While copper interconnects struggle to keep up, NcodiN is rewriting the rules with the world’s smallest laser and a revolutionary optical network. This isn’t just innovation; it’s the key to unlocking the next leap in AI and hyperscale performance. Looking forward to the next milestones of the company!”
Brief about the lead investor
MIG Capital is a German venture investor that backs early deeptech and life-science startups. Its funds have invested over €770M in about 60 companies, with a current portfolio of more than 30 firms working in fields such as biopharma, energy, environmental tech, computing, IoT, medical technology, and digital health.
