Kernel Capital through The Bank of Ireland Kernel Capital Funds has invested in Dublin City University (DCU) spin-out Pilot Photonics, a developer of comb source laser technology. The investment is of almost €1M by The Bank of Ireland Kernel Capital Funds in syndication with Dublin BIC. The company has recently been awarded a significant contract by the European Space Agency (ESA) to develop laser communications systems for use in a range of advanced communications satellite systems.
Pilot Photonics has developed the world’s lowest cost, size, weight and power consuming optical comb source (OCS), absorbing one-third of the power of competing approaches at a fraction of the cost. Pilot Photonics’ technology, which is based on 10+ years of pioneering research and development undertaken at DCU, Trinity College Dublin and Tyndall National Institute, has multiple applications across the communications, energy, safety, aerospace and defense sectors globally. This round of investment will enable the Company to expand the team and accelerate their international growth plans.
“Three years ago we took a strategic decision to pursue the development of a completely new technology platform centered around photonic integration. Securing this investment from Kernel Capital and DBIC is a strong validation of that strategy and the new business opportunities it has opened up. We look forward to growing the team, and winning business in both new and existing markets.”
Frank Smyth, CEO, Pilot Photonics