07 May 2024

Deep tech company raising an amount in the three-digit million range: Danish
nanotechnology to be sold to the world’s largest high tech companies

image Photo: Founder and CEO, Theodor Nielsen

NIL Technology (NILT), a spin-out company from DTU Science Park, raises DKK 217 million in an investment round where the Export and Investment Fund of Denmark (EIFO) contributes with DKK 47 million.

The company produces, among other things, lenses for optical sensors to be used in mobile phones in the future, for instance, in connection with face recognition. NILT has further developed the meta-optics technology, which is the foundation of optical sensors, all the way from design to prototype. The new investment will be used to expand the production to meet the demand.

From DTU Science Park to international company

NILT was founded at DTU Science Park in 2006 and their technology was sold back then. However, after their first venture financing in 2018, the two founders, Theodor Nielsen and Brian Bilenberg, began to develop their own product.

During the past few years, the Danish nanotechnology company has focused on developing their meta-optics technology, moving from development to production in record time. The company aims to ensure that their optical components can be found in all leading brands of smartphones worldwide.

Covering a wide range of technology

NILT’s customer base already includes some of the world’s largest high tech companies, however, its vision is far more ambitious, and the company is now on its way into a huge market for optical solutions.

”By using many of the same technologies which are used to produce computer chips and combine it with the nanoprint technology that we have been working on for more than 20 years, we are now able to produce extremely advanced optical lenses, based on a nanotechnology that is better, simpler and which requires less material than the existing solutions. They can be used in many kinds of products and growth potential can be found in areas ranging from robots, drones to virtual- and augmented reality and automotive vehicles”, says Theodor Nielsen, the founder and CEO of NILT.

Strong international syndicate

The total investment round worth DKK 217 million stems from a strong syndicate of international investors which, apart from EIFO, includes Jolt Capital, NGP Capital and Swisscanto Invest.

According to the state fund great potential can be found in the Danish deep tech company:

”NIL Technology is an excellent example of how research from DTU Science Park can be lifted out, and in the hands of the right people, be transformed into new innovative products which the world has not seen before. EIFO is working strategically to support the commercialisation of research and deep tech, and NILT serves a great example as a company who puts Denmark on the world map within its field. Therefore, we are glad to be the Danish anchor in a major investment round involving international investors,” says Jesper Lilledal Partner, Direct Investments, Tech & Industry.