Lightmatter Raises $154M in Series C Funding

Lightmatter, a Boston, MA-based company which specializes in photonic technologies, raised $154M in Series C funding.

The round, which brought the total amount to over $270M, saw participation from SIP Global, Fidelity Management & Research Company, Viking Global Investors, GV (Google Ventures), HPE Pathfinder and existing investors.

Led by CEO Lightmatter has developed photonic processors that are faster than any conventional processors in existence today and is answering the call for increased compute speed, low energy density, and reduced chip heating. The company is introducing its photonics-enabled products to the market: Envise, Passage, and Idiom.

The company intends to use the funds to expand operations and its development efforts to bring the above products to market and enable cloud providers, semiconductor companies, and enterprises to leverage photonic technology to bring a new level of performance and energy savings to advanced AI and HPC workloads.

In 2022, Lightmatter announced growth with the recruitment of top talent to its leadership team, including Richard Ho, who led Google’s Tensor Processing Unit program, and Ritesh Jain, who led datacenter chip packaging at Intel, as VPs of Hardware Engineering. The company also announced Jessie Zhang, who led corporate financial planning at Apple, as VP of Finance, and Steve Klinger, former VP at Innovium, as VP of Product. Lightmatter currently has over 20 active roles across product, R&D, and engineering, and holds over 150 patents worldwide.

FinSMEs

31/05/2023