NLM is the first company to receive investment from both Pangaea Ventures and Emerald Technology Ventures, two leading investors in deep tech and advanced materials.
SEATTLE, WA / ACCESS Newswire / September 8, 2026 / NLM Photonics, the leader in the development of organic electro-optic (OEO) technology based upon its Selerion family of materials, has added new financial and strategic investors to its cap table to accelerate commercialization of its organic photonic ecosystem.
Pangaea Ventures, widely regarded as the world's leading hard tech venture capital firm, and Diamond Edge Ventures, the venture investment arm of Mitsubishi Chemical Corporation, have joined NLM Photonics to commercialize its technology. Existing investors Emerald Technology Ventures, Oregon Venture Fund, Idemitsu, Tokyo Ohka Kogyo Co., Ltd. (TOK), and StoryHouse Ventures strengthened their investment, alongside private investors and company employees.
As part of the round, David Weekes, from Pangaea Ventures, will join NLM's Board of Directors. NLM is the first company to secure investment from both Pangaea Ventures and Emerald Technology Ventures, two influential investors across advanced materials and hard tech landscapes.
"We've assembled an investor base that mirrors the ecosystem we're building, bringing together firms with decades of experience scaling deep technology companies alongside global leaders in semiconductor materials and manufacturing," said Brad Booth, CEO of NLM Photonics. "Pangaea is the firm where material incumbents and semiconductor giants turn to when validating breakthroughs. Emerald is one of the most established names in industrial and cleantech investing. Having both invest in NLM while rounding out with strong investors in the material space - TOK, Idemitsu and Mitsubishi Chemical Corporation - is a powerful signal to the photonics market that NLM has secured the material supply chain while on a path to scale for manufacturing."
The investment reflects growing market confidence in NLM's organic materials as a path to faster, more energy-efficient photonics, driven by surging AI workloads and demand for higher-bandwidth, lower-power optical interconnects. The capital infusion will accelerate NLM's ecosystem development for commercial-scale, multi-foundry production of organic hybrid photonic integrated circuits (PICs) for high-speed optical transceivers, next-generation data center interconnects, and quantum computing based upon NLM's OEO material families.
With expertise in foundational science, Pangaea has backed hard tech breakthroughs in chemistry, novel semiconductor substrates, and advanced hardware components. Emerald brings decades of experience scaling hard-tech companies from demonstration to deployment. Diamond Edge Ventures provides access to deep materials and manufacturing expertise through its parent company, Mitsubishi Chemical Corporation. Returning investors Idemitsu, a major player in advanced materials, and Tokyo Ohka Kogyo Co., Ltd., a major player in semiconductor materials, further strengthen a cap table optimized for both scientific innovation and volume manufacturing.
"We invest in technologies that materially transform the systems that the world increasingly depends on. NLM's organic photonics platform is a clear example of technology that not only improves the rate at which data is moved, but does so with substantially lower energy requirements," said David Weekes of Pangaea Ventures, who joins the NLM board. "NLM has already brought in partners who understand what it takes to move a materials breakthrough into high-volume manufacturing. That combination of strong science and a credible path to scale is rare, and it's why we wanted to partner with NLM Photonics."
NLM has rapidly advanced its technology development and commercial engagements. In 2025, the company demonstrated the industry's first 1.6-terabit and 3.2-terabit multi-channel silicon-organic hybrid photonic integrated circuits, and in 2026, began customer sampling of its 1.6T and 3.2T PICs. With the expansion of its investors and customers backing that trajectory, NLM is positioned to scale its organic photonics platform toward volume manufacturing.
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INVESTOR QUOTES
"Bringing a new material into volume production requires years of customer qualification, consistent quality, and reliable supply. Mitsubishi Chemical Corporation has supported the semiconductor industry through that process for decades and understands what NLM will need to demonstrate as its technology advances. Through this investment, we intend to support NLM as its organic electro-optic materials progress toward commercial production," said Curtis Schickner, President of Diamond Edge Ventures.
"Our increased investment reflects the strong progress NLM has made since our initial investment. The team has repeatedly met important technical milestones while forging the strategic partnerships needed to bring its technology to market. The combination of technical execution and ecosystem development gives us confidence in NLM's path to commercial success," said Frank Balas, Investment Director, Emerald Technology Ventures.
"Since our initial investment, we have been encouraged by NLM Photonics' progress in advancing its organic electro-optic technology and by its growing engagement with customers across the photonics industry. We believe this technology has the potential to contribute to the next generation of high-speed, energy-efficient optical communications. Through this follow-on investment, we look forward to supporting NLM Photonics as it builds on this momentum," said Hidenori Tanaka, Executive Officer, General Manager of Business Investment Office, Idemitsu Kosan Co., Ltd.
"NLM has evolved from a promising technology into a business with real commercial momentum and world-class strategic partners. We're proud to have backed NLM from an early stage, and to be deepening our commitment as it moves from breakthrough demonstrations toward commercializing its materials," said Deepthi Madhava, Partner, Oregon Venture Fund.
"NLM has continued to validate its vision over the past couple of years through disciplined execution, technical leadership, and the ability to attract exceptional talent and partners. We are proud to continue investing in and supporting the company's growth, and are grateful to have the company in our portfolio and in the Claremont Colleges startup ecosystem," said Josh Tatum, GP, StoryHouse Ventures.
"Commercial success in photonics depends on technologies that can move beyond the laboratory into scalable semiconductor manufacturing. NLM has made impressive progress in building an ecosystem that supports that transition, and we are excited to continue supporting its commercialization efforts," said Naoki Watanabe, Division Manager, New Business Development Div., Tokyo Ohka Kogyo Co., Ltd.
About NLM Photonics
NLM Photonics is architecting the future of photonic communications. Enabled by NLM's Selerion family of organic electro-optic material and leveraging standard silicon photonic manufacturing, NLM has created a blueprint for building energy-efficient, high-bandwidth photonic interconnects for data centers, AI infrastructure, and quantum networking. For more information, visit nlmphotonics.com or follow us on LinkedIn at nlm-photonics.
Media Contact:
Alex Crabb
Caster Communications
press-relations@nlmphotonics.com
401-318-2229
SOURCE: NLM Photonics
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View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/computers-technology-and-internet/nlm-photonics-expands-investor-base-with-pangaea-ventures-and-mit-1217234
