The round was led by Altair, a global leader in computational science and artificial intelligence (AI). As part of the investment, James R. Scapa, founder and chief executive officer, Altair, will assume a seat on Xscape Photonics' board of directors and Altair will also secure a seat on the board of observers.

By applying innovative photonics technology, Xscape has developed a platform that connects various computing elements in an environmentally sustainable way while offering the highest possible performance. This novel approach uses photonics to drastically reduce power consumption and heat production while increasing the speed and power of communications, all to support the vast increase in the amount of data transferred from chip to chip, node to node, and more.