Swave Photonics, a leader in true holographic display technology, has closed a $28.27 million Series A funding round to accelerate the development of its Holographic eXtended Reality (HXR) platform. This platform aims to revolutionize AI-powered augmented reality (AR) smartglasses and heads-up displays with a reality-first user experience.
The funding round was co-led by imec.xpand and SFPIM Relaunch, with new contributions from the EIC Fund, IAG Capital Partners, and Murata Electronics North America, Inc. Existing investors Qbic Fund, PMV, imec, and Luminate also participated. The company’s previous €10 million seed round in 2023 facilitated the launch of its HXR technology and the expansion of its expert team in photonics and semiconductors.
“This funding will enable us to accelerate product introductions and address the limitations of current AR experiences with true holography,” said Mike Noonen, CEO of Swave Photonics. “Our investors recognize that Swave uniquely integrates semiconductor, holographic, and AI technologies to create cost-effective and impactful solutions.”
Swave’s HXR platform utilizes the smallest pixel in the world to generate high-quality 3D holographic images through patented DynamicDepth technology. These images interact naturally with their surroundings, offering a seamless and immersive experience that aligns with the human visual system.
“AR glasses will become the primary interface for AI-powered spatial computing, and Swave is uniquely positioned to enable this future,” noted Theo Marescaux, co-founder and Chief Product Officer. “Our integrated approach co-designs every element, from holographic SLMs with nano-pixels to real-time compute chips, delivering the most advanced AR solutions.”
Swave has developed its HXR technology over the past decade, holding 60 core patents. The platform eliminates common AR challenges such as high costs, bulky designs, high power consumption, and visual discomfort caused by Vergence-Accommodation Conflict. Unlike existing AR devices, Swave’s solutions remove the need for costly components like waveguides or varifocal lenses.
“With Series A funding secured and silicon running at our partner fabs, we are poised to deliver product development kits and transition to production devices,” said Dmitri Choutov, co-founder and COO.
Following its April 2024 launch of the HXR platform and the debut of the first true-color holographic display, Swave’s technology is set to be recognized at CES 2025 with a CES Innovation Award. This funding milestone marks a significant step toward reshaping the AR market and redefining user experiences with cutting-edge holographic displays.
