Lightmatter, a Boston, MA-based company which specializes in photonics-enabled technologies, raised $155M in Series C-2 at a $1.2 Billion valuation.
The round, which brought the total amount to $420M, was led by GV and Viking Global Investors, with participation from others.
The company intends to use the funds to expand its team and office presence, while accelerating its ability to provide customers increased performance on the most advanced AI workloads.
Led by CEO Nick Harris, Lightmatter is developing photonic technologies that reconstruct how chips calculate and communicate, which can be leveraged by the biggest cloud providers, semiconductor companies, and enterprises for their computing needs. The company provides a full stack of photonics-enabled hardware and software solutions that simultaneously reduce power consumption and increase performance. This is essential for highly compute-intensive workloads such as AI, which have grown rapidly to affect every critical industry.
Since the company’s last funding announcement in May 2023, Lightmatter has grown its headcount more than 50% to meet client demand and product milestones. As a result of this expansion, Lightmatter plans to open a Toronto office in 2024. The company has also bolstered its leadership team, hiring Danner Stodolsky as Vice President of Data Center Architecture and Colin Sturt as General Counsel.
FinSMEs
19/12/2023