This funding will enable NcodiN to scale from R&D to industrial production, accelerating product development, recruiting key engineers to support the industrialization of its technology on a 300mm CMOS pilot line, and structuring its supply chain and customer partnerships.
This equity round was led by MIG Capital, with strategic participation from Maverick Silicon, PhotonVentures, and Verve Ventures, as well as renewed support from its historical investors Elaia, Earlybird, and OVNI.
Transforming the Future of AI Hardware
NcodiN is developing NConnect, a new generation of photonic interposers designed to overcome the "copper wall" — the performance and power efficiency limitations of electrical interconnects that hinder AI systems. At the heart of this technology is the world's smallest silicon-integrated laser, enabling unprecedented dense integration and scalability, without disrupting existing processor architectures.
This breakthrough allows chip manufacturers to integrate supercomputer-level processing power into a single processor, paving the way for faster and more efficient AI hardware. This funding round will accelerate the platform's industrialization, particularly through an industrial pilot demonstrating compatibility with advanced packaging techniques.
NcodiN will also establish a presence in Silicon Valley, strengthen its R&D capabilities, and expand its team for large-scale manufacturing partnerships — introducing technology designed to break through the copper wall and redefine AI hardware performance.
“This funding round marks a key milestone for NcodiN. We are providing the missing piece to the industry's most urgent challenge: enabling extremely high memory bandwidth to power tomorrow's AI factories. Our technology unlocks wafer-scale superchips by offering the most energy-efficient interconnects capable of linking dozens of chiplets — a critical component of the architectures everyone is aiming for. As new generations of GPUs and AI accelerators emerge to keep pace with the rapid evolution of GenAI algorithms, NcodiN is laying the photonic foundations that make them possible.” Francesco Manegatti, CEO and Co-founder, NcodiN.
“Memory bandwidth has become a major bottleneck for AI, with copper interconnects struggling to provide the reach and efficiency required for next-generation systems. NcodiN’s photonic interposers unlock bandwidth and memory capacity beyond copper’s limitations. We are thrilled to support NcodiN in creating architectures that will define the future of AI hardware.” Josh Miner, Maverick Silicon.
Momentum Already Building
Over the past 18 months, NcodiN has gained widespread industry recognition for its vision and advancements in addressing AI interconnect bottlenecks. The company has demonstrated proof-of-concept nanolasers with record energy efficiency below 0.1 pJ/bit, integrated nanodetectors, and complete optical links, all on silicon. In parallel, NcodiN has established an independent cleanroom that now serves as a hub for rapid prototyping and co-development with industrial partners.
To strengthen its foundation, NcodiN has expanded its network of strategic advisors, notably welcoming Eli Yablonovitch, Gus Yeung, and Peter de Dobbelaere.
Eli is a renowned physicist, a pioneer in photonic crystals, and co-founder of Luxtera, Ethertronics, Luminescent, and Alta Devices.
Gus previously served as General Manager at ARM, where he spent nearly 20 years growing the company and establishing it as the reference platform for current processors. He also served as CTO at Intel Foundry Services, leading the organizational and technological transformation required to serve leading external clients.
Peter is a seasoned silicon photonics engineer who played a key role in the success of Luxtera, the industry's first major industrial success story.
“NcodiN is tackling the next big opportunity in silicon photonics: the silicon photonic interposer, which enables very high-bandwidth communications in a multi-chip system, particularly for AI and machine learning. To achieve this, they integrate high-performance nanolasers into silicon, combining physical elegance with manufacturability. This approach is likely to revolutionize all future large-scale cybernetic systems.” Eli Yablonovitch, Professor Emeritus, UC Berkeley.
“NcodiN is positioned at the heart of the AI infrastructure market, a rapidly growing sector driven by massive demand for generative AI, the proliferation of big data, advancements in specialized hardware like GPUs, and the widespread adoption of cloud computing. NcodiN’s ambitious team is shaping and strengthening the future of computing to drive innovation across multiple industries. We are very pleased to support them.” Dr. Oliver Kahl, Principal, MIG Capital.
“At Elaia, we have supported NcodiN since its inception, when it was still a spin-off from CNRS. As copper interconnects reach their limits, NcodiN is redefining the rules of the game with the world’s smallest laser and a revolutionary optical network. This is not just an innovation; it’s the key to the next performance leap for AI and hyperscale. We look forward to seeing the company’s next steps!” Clément Vanden Driessche, Partner, Elaia
About NcodiN
Founded in Paris in 2023, NcodiN is a deeptech startup that designs optical interconnects for the next generation of high-performance computing. By integrating the world’s smallest lasers onto silicon, NcodiN develops photonic interposers that overcome the speed and energy limitations of copper, enabling previously unimaginable systems.
In the era of "more-than-Moore" — where processors are becoming ever larger and more complex — NcodiN is paving the way for "more-than-copper," by providing the optical infrastructure needed to evolve computing efficiently and sustainably.
Learn more about ncodin.com
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