Venture capital LIFTT announces two new investments promoting the development of Italian photonics, one of the six technologies deemed strategic by the European Commission for industrial innovation, well-being, citizen safety, and sustainable development. With €750,000, LIFTT enters as the sole investor in Subphoton, a startup that has developed the application of photonics to the undersea telecommunications cabling sector.
This initial investment will be followed by a subsequent cash injection in late 2023 to set up the production facility in Milan. But that’s not all because LIFTT has also invested €250,000 in CareGlance, a deeptech startup that has devised and patented an innovative proposal for OCT (Optical Coherence Tomography), a sector characterized by a high potential of applications, from ophthalmology to Industry 4.0, for a market that is currently worth $1.2 billion with growth forecasts of 9.8 percent. “Investing in photonics technology and supporting the growth of Italian startups that develop its applications means investing directly in the future of our country: Italy, both as a research and as an industry, has a prominent international positioning together with Germany, the United Kingdom, and France,” said Giovanni Tesoriere, CEO of LIFTT.
Read more about Lifft and its most recent investments in two photonics startups and find the latest financial headlines of the day with the Born2Invest mobile app.
Subphoton, the submarine cabling
Founded in 2019, Subphoton has a team with specific expertise that has enabled it to develop high-performance optical amplifiers based on two different technologies that allow it to increase the signal traveling in the cables to the bottom of the ocean depths ensuring greater efficiency and an increase in the amount of data transmitted per single cable.
A performance improvement that is unmatched by the current state of the art and has attracted the interest of some Hyperscalers, among the leaders of the global digital economy such as Alphabet, Meta, Amazon, and Microsoft who alone own or lease more than half of the global submarine bandwidth. In less than a decade, in fact, these players have transformed themselves from capacity buyers to direct owners of network assets in order to achieve better performance, reliability, and flexibility and thus be able to support the soaring increase in demand for services. “We are very happy to have found in LIFTT a partner who not only believes in the development of Subphoton’s solutions but with whom we share our idea of the future and the enthusiasm to propose concrete solutions to the challenges that will be posed to the next generations,” commented Subphoton’s Daniele Androni.
CareGlance, superfast and compact technology for ophthalmology
Established in 2019, CareGlance already has to its credit collaborations with industrial entities in the OCT sector for diagnostic tests in ophthalmology, as well as having a structured customer portfolio. With prototyping at an advanced stage, CareGlance is building partnerships with industries operating in the food and real-time quality control of in-line welds.
“Support for hardware startups is relatively new in our country, and it is a great incentive for a revival of Italy’s role in the international advanced technology scene,” commented Careglance CEO Maria Chiara Ubaldi.
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First published in StartupItalia, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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