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NATO Innovation Fund Co-Leads €25M Series A In Photonics Startup Camgraphic

by THEFUTURE.TEAM

March 24, 2025

The NATO Innovation Fund (NIF) has co-led a €25 million Series A funding round for UK-based photonics startup Camgraphic, alongside Italy’s CDP Venture Capital, Sony Innovation Fund, and Berlin’s Join Capital. Additional investors in the round include Bosch Ventures, Frontier IP Group, and Indaco Venture Partners.

Camgraphic is developing innovative graphene microchips that use both light and electrical signals to transmit data, offering a faster, more energy-efficient alternative to traditional silicon-based chips. The company’s technology is poised to enhance a variety of applications, including AI, high-performance computing, autonomous vehicles, satellite communications, and radar imaging.

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The funds raised will support the expansion of Camgraphic’s R&D operations in Pisa and the establishment of a pilot manufacturing line in Milan. CEO Ben Jensen revealed that the funding process took eight months to close, with the round raised by Camgraphic’s parent company, 2D Photonics Spa. Jensen anticipates the first commercial applications of their graphene photonic technology to be available within a few years.

The Advantages Of Graphene In Photonics

Photonics refers to the technology that converts data into light signals to transmit over fiber-optic cables. While silicon photonics is currently used in systems like AI, high-performance computers, and 5G/6G communications, it has limitations. Silicon photonics faces challenges like a band gap and low extinction ratio, which result in distorted signals and high latency.

Jensen explains, “Silicon photonics has a finite future. With the rapid rise in data consumption for AI and 5G/6G, the existing material is being stretched to its limits.” Graphene, on the other hand, offers a gapless structure that eliminates these issues, providing higher scalability and significantly reducing latency and bandwidth problems. This makes graphene a more cost-effective and efficient material for photonic circuits.

Plans For Growth

With the new funding, Camgraphic plans to scale its technology, establish manufacturing partnerships and expand its workforce. The company is currently looking to hire a chief financial officer and aims to grow its team from 17 to 34 people within the next year, with further expansion to 68 employees over the next two years.

Notable figures who joined the company’s board as part of this funding round include Ben Balmforth from NATO Innovation Fund, Antonio Avitabile from Sony Innovation Fund, and Sebastian von Ribbentrop from Join Capital, among others.

As Camgraphic moves towards commercialization, its innovative graphene-based photonics technology has the potential to reshape industries reliant on data transmission, from AI to communications and beyond.

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Apple’s Mac Segment Defies Market Expectations With AI-Driven Growth

Apple’s latest quarterly results featured stellar performance from its iPhone sales and burgeoning Services revenue, yet it was the Mac that truly exceeded market expectations. Driving a notable increase fueled by the rising demand for AI workloads, the Mac segment surprised investors with robust growth.

Strong Revenue Beat And Unexpected Growth

Wall Street had forecast Mac revenue in the low $8 billion range; however, Apple reported $8.4 billion in revenue for the quarter ended March 28. This performance not only surpassed estimates but also marked a 6% year-over-year increase, in contrast to the anticipated flat sales. Overall, Apple’s revenue climbed an impressive 17% year-over-year, signaling a healthy diversification of its earnings across core and non-core segments.

Innovative Launches And A New Wave Of Users

Part of the Mac’s surge can be attributed to recent product launches, notably the well-received MacBook Neo. Launched amid heightened consumer excitement and rapid preorder uptake, the Neo quickly resonated with both existing and new users, setting a quarterly record for attracting first-time Mac customers. CEO Tim Cook noted that customer interest was “off the charts,” a testament to the Neo’s market appeal.

Local AI Innovations And Enterprise Adoption

Surprisingly, Apple identified a surge in demand for Macs driven by local AI workloads. Platforms like OpenClaw have led to rapid adoption, further evidenced by recent sellouts of the Mac mini and Mac Studio devices. In China, where demand for advanced AI computing is particularly fervent, the Mac mini emerged as the top-selling desktop, reinforcing the role of Macs in powering enterprise-grade AI solutions. Notable enterprises, including tech innovator Perplexity, have adopted the Mac as their platform of choice for developing enterprise AI assistants.

Supply Constraints And Future Outlook

Despite the record-breaking demand, Mac revenue remained flat on a quarter-over-quarter basis, indicating that the rising demand is still in its early phases. Cook acknowledged that balancing supply and demand for the Mac mini and Studio models could require several months. He also highlighted supply constraints impacting the MacBook Neo, prompting institutions such as Kansas City Public Schools to transition from Chromebooks to the Neo as their preferred computing solution.

Conclusion

Apple’s latest earnings underscore how strategic product innovations and the increasing relevance of AI are reshaping demand across its product lines. As the tech giant continues to refine its supply chains and capitalize on emerging market trends, its ability to navigate these shifts will be critical to sustaining long-term growth and maintaining its competitive edge.