Innovation Industries, an independent venture capital fund, led a a $41m Series C funding round in SMART Photonics, an independent foundry for photonic integrated circuits. The round was also joined by the Ministry of Economic Affairs and Climate Policy of The Netherlands through the Brabant Development Agency, KPN Ventures and PhotonDelta. “We are very excited to have the new consortium on board and to be able to bring our foundry to the next level thanks to this investment. This will allow us to scale up our volumes as we support our customers in bringing their first commercial products using photonic integration technology to the market,” Johan Feenstra, SMART Photonics Chief Executive Officer.