Vexlum, a manufacturer of advanced semiconductor lasers, has secured €10 million in funding to expand its proprietary semiconductor chip manufacturing and laser technology operations in Finland as it targets growing demand from quantum technologies and other high-impact applications. The company framed the financing as a major milestone for the Nordic deep-tech ecosystem and said it may be the largest seed round raised by a photonics company in the region.
The €10 million package includes €6 million in equity led by Nordic venture firm Kvanted, with participation from Finnish state-owned investor Tesi and the EIC Fund. In addition, Vexlum secured a €2.4 million EIC Accelerator grant and a €1.6 million Nordea loan. Vexlum said the capital will be used to increase manufacturing capacity and production scale, moving beyond “boutique” output toward industrial-scale capability to support broader adoption of its laser systems.
Vexlum’s core product is based on semiconductor Vertical-External-Cavity Surface-Emitting Laser (VECSEL) technology, which the company says addresses a bottleneck in multiple industries: limited availability of compact, cost-effective, high-power lasers at precise wavelengths. The company said this constraint is affecting the scaling of technologies such as quantum computing and atomic clocks, and it also pointed to additional applications, including semiconductor metrology and free-space optical communications.
To meet demand, Vexlum said it will expand manufacturing in Tampere, including relocating semiconductor fabrication into a new, expanded facility. The company emphasized vertical integration as a differentiator, noting it controls the entire value chain from wafer growth to laser system integration. Vexlum said chip fabrication begins with molecular beam epitaxy, where wafers are grown layer by layer, and that it uses III–V semiconductor materials such as gallium arsenide, indium phosphide, and gallium antimonide to produce wafers tailored to specific wavelengths. After fabrication in a specialized cleanroom, chips are integrated into laser systems.
Vexlum said the funding supports a growth strategy targeting €100 million in revenue by 2030. The company also highlighted traction in quantum computing, describing itself as a major supplier for trapped-ion quantum computers, while positioning its wavelength flexibility as a foundation for expansion into broader industrial photonics markets, including satellite optical communications and next-generation optical atomic clocks.
KEY QUOTES
“Securing and scaling our semiconductor fabrication infrastructure is critical for the market’s evolution. It allows us to ensure that the laser quality and reliability meet our customers’ stringent requirements. We are moving beyond boutique production to industrial-scale capability. This funding allows us to bring our semiconductor manufacturing into a new, expanded facility here in Tampere and scale our capacity to meet the demand from the quantum, semiconductor, and space sectors.”
Jussi-Pekka Penttinen, Chief Executive Officer and Co-Founder, Vexlum
“Tampere has emerged as a leading hub for optoelectronics and III-V semiconductor technology, building on a strong foundation of world-class academic research and a proven ability to translate it into industrial innovation. This investment round represents a decisive step in scaling our ambitions, securing a leading position for Tampere and Finland in the advanced semiconductor industry.”
Mircea Guina, Chairman and Co-Founder, Vexlum
“We are not just investing in a laser company. Instead, we are investing in a semiconductor manufacturer that has cracked the code on scaling high-power, precise wavelengths for the world’s most difficult problems. Our fund is proud to back a team that is turning this know-how into a global category leader.”
Axel Ahlström, Founding Partner, Kvanted
“The quantum ecosystem has taught us that extreme precision is only valuable if it can be delivered reliably and at scale. We are now taking those hard-won lessons and applying them to the broader photonics landscape. Whether for satellite communications or semiconductor metrology, we are proving that the rigorous architecture developed for quantum computers is the same engine needed to drive the next generation of industrial innovation.”
Jussi-Pekka Penttinen, Chief Executive Officer and Co-Founder, Vexlum
