Bullnet Capital, an independent Spanish venture capital investment firm, has led an investment round in Mapsi Photonics, a spin-off of the Universitat Politècnica de Catalunya (UPC) dedicated to the development of infrared filters based on macroporous silicon. The company, created at the end of 2021, is led by its founders, David Cardador Maza and Daniel Segura Garcia, PhDs in electronics with extensive experience in the photonics sector, both in research and industry.
Mapsi Photonics is Bullnet's eighth investment with its fourth fund, Innvierte Science Tech Bullnet Capital IV, following Katoid, Quside, Leapwave, Enthec, MLCode, Deep Detection and AGPhotonics.
Over the past decades, optical filters have been used in a wide variety of applications, from human vision enhancement to photography, detection and sensing. However, until now, manufacturing techniques were based on the deposition of contaminating and sensitive elements on a silicon or germanium substrate, with inherent limitations in terms of thickness and performance that limited their applications.
To solve these problems, Mapsi Photonics has developed a new filter paradigm, initially applied to mid- and long-wave infrared, and based on the selective drilling of a pure silicon substrate. In this way, the manufacturing process is much more controllable and simpler, giving its products higher performance, resolution, operational range and robustness, while reducing pollution and environmental emissions.
With this investment by Bullnet, the company will be able to advance in the development of its technology and in the standardisation of the manufacturing process of its filters, as well as in the definition of new product lines with which to expand the applications of its technology. The investment is supported by InnovFin's SME Guarantee Facility, as well as the financial backing of the European Union under the Horizon 2020 financial instruments.
David Cardador Maza and Daniel Segura Garcia, co-founders of the project, say: “The investment comes at the right time for Mapsi. We want to go from startup to scaleup, and we are convinced that we will achieve this with Bullnet as a travelling companion”.
“Bullnet is not only providing private capital, it is a strategic partner that will help us develop the technology and production processes” add the founders of the project.
According to Miguel del Cañizo and Javier Ulecia, founding partners of Bullnet Capital: “Mapsi Photonics has demonstrated an exceptional ability to reinvent the way infrared filters are conceived. At Bullnet, we believe that this investment will help the Mapsi team to industrialise its developments on a large scale and make its filters the new standard for a wide range of industrial applications”.
About Bullnet Capital:
Bullnet Capital is an independent Spanish venture capital investment firm focused on high-tech companies (software, electronics, semiconductors, photonics) established in 2002, managing a total of €140 million through various investment vehicles. To date, Bullnet Capital has invested in twenty-five early stage Spanish companies and maintains its investment philosophy of adding value by contributing to the day-to-day operations of portfolio companies.
www.bullnetcapital.com
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