LioniX secures €1.5 million in bridge financing
The company says the financing will enable it to weather short-term challenges and resume growth
LioniX International, a vertically integrated photonic chip foundry, has announced that it will receive €1.5 million in bridge financing from the East Netherlands Development Agency (Oost NL).
The Enschede-based company, which was established in 2001, is specialised in developing applications for its OEM customers with its proprietary TriPleX platform, and has the ambition to become a global leader in the PIC industry.
According to LioniX, external circumstances caused its results to dip in 2023, but the company says its outlook for 2024 is positive, and that the short-term bridge financing will ensure its continuity and further growth.
“With Oost NL we will have a strategic partner providing a loan to bring the continuity to the business of LioniX International that it needs, and secure jobs for the region,” the company stated. “This enables LioniX International to further develop and exploit its unique technology for new applications in the market, now and in the future.”
