Agate Sensors, a Helsinki-based startup spun out of over a decade of research led by Prof. Zhipei Sun’s Photonics Group at Aalto University, raised €5.6 million in 2024 to commercialise its chip-scale spectral sensing technology. The company’s innovation condenses lab-grade spectroscopy into a sensor small enough to integrate into smartphones, wearables, and other compact devices.
“The current valuation is based on the current state of the technology, its potential and market traction we already received, and the team that is capable of productising it to the mass market,” said Tommi Leino, Agate Sensors’ CEO, in a conversation with TFN.
While the exact valuation remains undisclosed, the funding round comprises €4 million in equity led by Nordic deep-tech investor Voima Ventures and Italian venture firm LIFTT, plus €1.6 million in grants from Business Finland, a key supporter of innovative Finnish startups.
The story of Agate Sensors
Founded on pioneering academic research, Agate Sensors is led by CEO Tommi Leino, who brings decades of semiconductor experience from Nokia and Microsoft. CTO Andreas Liapis, with research ties to both Aalto University and Harvard Medical School, drives the scientific innovation. At the same time, CBO Mikael Westerlund has a proven track record of scaling startups globally, growing from small teams to hundreds of employees.
The team is notably international, representing seven nationalities. Leino acknowledged ongoing diversity challenges: “In part due to the underrepresentation of women in technical fields, our team is currently 100% male, though we have LGBTQ+ representation in the C-suite and are actively working to change that.”
Behind Agate Sensors’ core technology
Agate’s core technology is a broadband light sensor fabricated using standard semiconductor processes, but uniquely without the typical colour filters. “The pixel sensor output is processed with our proprietary algorithms to produce spectral data and insights with lab-grade accuracy,” said Leino.
The company claims no other portable, software-defined pixel or light sensor delivers accuracy below 10 nanometers across the visible and near-infrared ranges.
Unlike conventional PPG wearables that rely on bulky arrays of LEDs and photodiodes, often limiting miniaturisation and scalability, Agate’s single-pixel sensor offers broad spectral coverage with lab-grade precision. This compact, chip-scale sensor integrates photography, video, hyperspectral imaging, biosensing, and spectroscopy into a single, ultra-compact platform.
Agate’s main competitors include manufacturers of PPG, RGB, and traditional hyperspectral sensors. However, the company’s novel approach distinguishes it by combining portability with software-defined spectral sensing capabilities unmatched in the current market.
What’s next?
With this fresh funding secured from Voima Ventures and LIFTT, alongside support from Business Finland, Agate aims to rapidly scale production and expand its footprint beyond specialised labs into mainstream consumer electronics, medical devices, and defence markets.
Leino summed up the vision: “Our plan is to first introduce spectral sensor SoCs for wearable devices for vital signals measurement, followed by megapixel SoCs to enable everyday devices with professional photography and with enhanced spectral sensing capability that enables a completely new era of mobile imaging.”
The company plans to enter the market first with spectral sensor SoCs optimised for wearable health devices that track vital signals, followed by more advanced megapixel SoCs that bring professional photography and enhanced spectral sensing to smartphones and other everyday devices.
