NIL Technology, one of the leading flat optics companies, has raised €29 million in new capital. The investment was led by a syndicate of investors, including the Export & Investment Fund of Denmark (EIFO) that backed Performativ and Podimo, Jolt Capital, NGP Capital, and Swisscanto Private Equity.
The company will use this investment to scale the manufacturing capabilities of its high-performing flat camera lenses to meet higher-volume customer requests.
Next-gen flat camera lenses
Founded by Theodor Nielsen and Brian Bilenberg in Denmark, NIL Technology is an optical solutions company designing, developing, and manufacturing optical elements and components using high-precision nanoscale features. Its solutions empower next-generation sensing, imaging, and diagnostic applications.
It has developed unique solutions for optical components that take optical sensing and 3D imaging to a new level for performance, efficiency, compactness, and material consumption. 3D sensing is a pioneering feature for smartphones, consumer products, AR/MR, autonomous vehicles, etc., where cutting-edge real-time sensor technologies, such as face- and gesture recognition or monitoring of surroundings are wanted.
“I am happy to see the strong support from our long-term investors, as well as new ones. We are dedicated to manufacture best performing meta-optics, essential for optical modules, which is possible due to our long-term commitment of making advanced nanostructures combined with proprietary technologies and capabilities within meta optics,” said Theodor Nielsen, CEO, Founder, NIL Technology.
“NILT is an excellent example of how research, in the right hands, can be transformed to innovative products the world has not seen before. At EIFO we work strategically with the commercialisation of research and deep tech, and NILT is a very strong example of a company who puts Denmark on the global map within its field. Therefore, we are happy to be the Danish anchor in a bigger round with international investors,” said Jesper Lilledal, partner, direct investments, Tech & Industry, EIFO.
“It’s been an excellent year for NILT so far, with a major publication in Nature Communications Physics, and now this new round of funding. The research paper demonstrated that the gap between theoretical promises and experimental performances of their metalenses is closing, while the additional capital injection will allow mass production ramp up. The company is firmly on its way to becoming one of the indisputable leaders of optics in Europe,” added Jean Schmitt, Managing Partner, Jolt Capital.
“As a long-term investor and a believer in the team’s vision, I’ve seen how NILT has built next generation optical components that take sensing and 3D imaging to a new level. They are pioneering meta-optics for smartphones, AR/VR, robotics, automotive and other industries, proving the impact of their technology,” added Bo Ilsøe, Managing Partner, NGP Capital.
“Thanks to the impressive efforts of NILT’s global and diverse team of world-class flat optics experts the company has consistently reported the highest transmission efficiencies for metalenses. The sophisticated design tools and vertically integrated manufacturing of NILT means its customers get the highest metalens performance possible, allowing for new groundbreaking designs,” added Nils, Granath, Senior Investment Director, Swisscanto Private Equity.
