VANCOUVER — Photonic secured over $200 million in a funding round completed on Tuesday. The investment was led by Planet First Partners, a firm that focuses on technology and sustainability projects.
The capital injection pushed the valuation of Photonic to approximately $2 billion, according to company records released this week. This figure represents the total worth of the business as of the most recent financial assessment conducted by the board.
Dr. Stephanie, the founder of Photonic, said in a statement on Tuesday that the funds will support research and development initiatives. She added that the new capital empowers the firm to scale its light-based technology solutions for the healthcare and telecommunications sectors.
The company plans to increase its total workforce count following the $200 million investment, though it did not specify a target number of new hires. Photonic currently employs staff across multiple departments to manage its various research projects and commercial operations.
Dr. Stephanie remains the primary leader of Photonic as the firm prepares for its next phase of product development in 2025. The company did not disclose the specific equity stake Planet First Partners acquired in exchange for the $200 million investment.
