Target Partners backs Sicoya in €3.5m series-A

The fresh capital will go towards further product development, increasing the company's headcount, and expansion into new countries.

Sicoya hopes to increase the financing round to €5m with additional investors and public funding sources.

Target focuses on startups in technology sectors such as mobile, software, cleantech, e-commerce and internet. The VC typically provides seed investment of around €1-3m and €6-8m throughout the whole investment period.

Company
Berlin-based Sicoya develops integrated silicon photonics-based microchips for optical interconnects. The company is a spinout from Technical University Berlin. 

People
Waldemar Jantz is a partner at Target and will join Sicoya's board. Sven Otte is CEO of Sicoya.

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• Topics
• DACH
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• Target Partners