Verizon Ventures, PME Investimentos in €4m round for PicAdvanced

The round was led by Verizon Ventures, the corporate venture capital arm of American telecommunications conglomerate Verizon Communications.

PME Investimentos is backed by the Portuguese state and is controlled by the national Bank of Portugal. The firm invested in PicAdvanced via Fundo 200M, a €200m co-investment vehicle that supports the growth and expansion of Portuguese startups and helps them attract funding from international investors.

Fundo 200M was launched in 2018 and raised €100m from private investors, while the rest was provided by the state. It targets seed, series-A and series-B rounds.

Company
Founded in 2014 and based in Ílhavo, PicAdvanced is a developer of optic and photonic transceivers for telecoms applications.

The company primarily focuses on the development of optoelectronic transceivers for a new telecommunications network standard called next-generation passive optical network 2 (NG-PON2). In addition, it is pioneering the design of photonic integrated circuits (PIC), with the aim of significantly reducing the cost of optical modules' production.

The company also specialises in a wide range of design, development, packaging and testing solutions for the electro-technology, telecommunications and biomedicine industries.

People
Picadvanced – Francisco Manuel Ruivo Rodrigues (co-founder, CEO); Antonio Teixeira (co-founder).
Verizon Ventures – Samy Ben Aissa (managing director).

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