The Italian deeptech company specializing in graphene-based optical chips has secured €211 million in funding.
CamGraPhIC, a subsidiary of 2D Photonics based in Milan, has been granted approval by the European Commission for €211 million in Italian state funding aimed at industrializing its graphene photonic interconnect technology and constructing a pilot manufacturing line in the vicinity of Milan.
This funding, categorized as one of the largest individual public investments in an Italian deep-tech startup, will facilitate the commercialization of the company's graphene-based optical interconnect platform and the establishment of a pilot manufacturing facility projected to become operational by 2028.
The technology developed by CamGraPhIC addresses a challenge that has intensified with the scaling of AI systems: compute power is no longer the main bottleneck. Instead, performance is hindered by the speed and efficiency of data transfer between chips, accelerators, and memory.
Current electrical interconnects and traditional silicon photonic links are unable to meet the bandwidth requirements of large AI models, leading to excessive power consumption and heat generation.
CamGraPhIC proposes to replace these links with graphene-based optical input/output technology, claiming it offers significantly higher bandwidth density, reduced latency, and markedly lower energy consumption compared to the best existing silicon photonics.
Graphene, a single layer of carbon atoms with remarkable electrical and optical characteristics, has been of scientific interest for twenty years but has proven challenging to produce at a commercial scale.
Founded by Marco Romagnoli and Professor Andrea Ferrari, CamGraPhIC's pilot line near Milan is intended to transition the technology from advanced research to practical production, paving the way for high-volume manufacturing processes.
The initiative is anticipated to generate over 150 skilled jobs in the fields of photonics engineering, materials science, and semiconductor production.
In February 2025, 2D Photonics secured a €25 million Series A funding round from CDP Venture Capital, the NATO Innovation Fund, Join Capital, Sony Innovation Fund, Bosch Ventures, Indaco Ventures, and Frontier IP Group.
The €211 million state aid is significantly higher, reflecting the capital intensity of semiconductor manufacturing and the EU’s strategic aim to establish a European photonics supply chain for AI infrastructure.
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The Italian deeptech company specializing in graphene-based optical chips has secured €211 million in funding.
CamGraPhIC, a subsidiary of 2D Photonics, has received EU approval for a €211M grant from Italy to industrialize optical interconnects based on graphene for artificial intelligence.