Finnish deep-tech startup Vexlum has raised €10 million to scale the manufacturing of high-precision semiconductor lasers—a critical component for quantum computing, space communications, and next-generation semiconductor tools.
The Tampere-based company says the round is the largest Seed financing ever raised by a Nordic photonics company, underscoring growing investor confidence in technologies that sit at the intersection of quantum, semiconductors, and space.
The funding combines €6 million in equity, led by Kvanted with participation from Finnish state investor Tesi and the EIC Fund, alongside a €2.4 million grant from the EIC Accelerator and a €1.6 million loan from Nordea. Together, the package will allow Vexlum to move from limited, specialist production to industrial-scale semiconductor laser manufacturing.
From research spin-off to industrial scale
Founded in 2017 as a spin-off from Tampere University’s Optoelectronics Research Centre, Vexlum develops high-power semiconductor lasers based on its proprietary VECSEL (Vertical-External-Cavity Surface-Emitting Laser) technology. The approach addresses a long-standing bottleneck in advanced technologies: the shortage of compact, reliable, high-power lasers at precise wavelengths.
These highly specific “laser colours” are essential for applications ranging from atomic clocks and trapped-ion quantum computers to satellite optical communications and semiconductor metrology. Until now, many of these systems have relied on complex, costly, or fragile laser setups that are difficult to scale.
“Securing and scaling our semiconductor fabrication infrastructure is critical for the market’s evolution,” said Jussi-Pekka Penttinen, CEO and co-founder of Vexlum. “We are moving beyond boutique production to true industrial capability. This investment allows us to expand our facilities in Tampere and meet rising demand from quantum, semiconductor, and space sectors.”
Atomic-scale manufacturing, end-to-end control
At the heart of Vexlum’s advantage is its vertically integrated manufacturing process. Chip fabrication begins with molecular beam epitaxy, where semiconductor wafers are grown atomic layer by atomic layer—a process often compared to 3D printing at the atomic scale.
Unlike conventional electronics, which rely on silicon, Vexlum works with III–V semiconductor materials such as gallium arsenide and indium phosphide. These materials enable laser operation at wavelengths that silicon cannot support.
By owning the full value chain—from wafer growth and cleanroom chip processing to final laser system integration—Vexlum maintains tight control over performance, reliability, and customization. That level of control is increasingly vital as customers move from laboratory experiments to real-world deployment.
Scaling toward €100M in revenue
The new capital will be used to expand production capacity, accelerate customer adoption, and support Vexlum’s ambition to reach €100 million in annual revenue by 2030. The company is already supplying lasers for trapped-ion quantum computers and sees growing opportunities beyond the quantum lab.
“The quantum ecosystem taught us that extreme precision only matters if it can be delivered reliably and at scale,” Penttinen said. “Those same principles now apply to satellite communications, optical clocks, and advanced semiconductor manufacturing.”
Tampere’s growing role in advanced semiconductors
Vexlum operates in Tampere, Finland, and Boulder, Colorado, but the company sees its roots in Finland’s optoelectronics ecosystem as a strategic advantage.
“Tampere has emerged as a leading hub for III–V semiconductor technology,” said Mircea Guina, chairperson and co-founder of Vexlum. “This round is a decisive step—not just for Vexlum, but for establishing Finland as a key player in the advanced semiconductor industry.”
As quantum and space technologies move from promise to production, Vexlum is positioning itself as a supplier of one of their most essential building blocks: precision light, delivered at scale.
