Total amount raised
$822 Millions
Latest funding date
Location
Title
Lightmatter has successfully raised $400 million, achieving a valuation of $4.4 billion.
Keep reading to explore the intricacies of Lightmatter's fundraising journey and the investors backing this innovative platform.
What Is Lightmatter?
Lightmatter, founded on September 8, 2017, in Mountain View, California, is a pioneer in photonic computing technology. The company was established by Darius Bunandar, Nicholas Harris, and Thomas Graham.
Specializing in photonic chips, Lightmatter aims to revolutionize data processing and communication by using light instead of electricity. Their technology serves sectors such as artificial intelligence, cloud computing, and telecommunications.
With a team of 101-250 employees, Lightmatter is at the forefront of silicon photonics innovation, pushing the boundaries of AI interconnect and networking standards.
How Much Funding Has Lightmatter Raised?
- Series A (Feb 5, 2018)
- Amount Raised: $11M
- Date: February 2018
- Lead Investors: Matrix, Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial photonic chip prototypes and validate the technology.
- Series A (Feb 26, 2019)
- Amount Raised: $22M
- Date: February 2019
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up production and begin commercializing photonic chips.
- Series B (Apr 6, 2021)
- Amount Raised: $80M
- Date: April 2021
- Lead Investors: Viking Global Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development for AI and cloud computing markets.
- Series C (May 31, 2023)
- Amount Raised: $154M
- Date: May 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet increasing demand for high-performance computing solutions.
- Series C-2 (Dec 19, 2023)
- Amount Raised: $155M
- Date: December 2023
- Lead Investors: Google Ventures, Viking Global Investors
- Valuation at Round: $1.2 billion
- Motivation Behind the Round: To expand the team, open a new office in Toronto, and enhance AI workload performance.
- Series D (Oct 16, 2024)
- Amount Raised: $400M
- Date: October 2024
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and continue innovation in photonic computing technology.
Total Amount Raised: $822M. Current Valuation: $4.4 billion.
Key Investors
- GV (Google Ventures)
- Details: GV is the venture capital investment arm of Alphabet Inc., providing seed, venture, and growth-stage funding to technology companies. They are known for backing innovative and disruptive technologies.
- Investment Focus Areas: Technology, life sciences, consumer products.
- Notable Investments: Uber, Slack, Nest.
- Viking Global Investors
- Details: Viking Global Investors is a global investment firm managing capital for institutions and high-net-worth individuals. They invest across various asset classes, including public and private equity.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: BridgeBio Pharma, Peloton, Snowflake.
- Matrix
- Details: Matrix is a venture capital firm that invests in early-stage companies across various sectors. They have a strong track record of supporting startups through their growth phases.
- Investment Focus Areas: Technology, healthcare, consumer internet.
- Notable Investments: HubSpot, Oculus, Zendesk.
- Spark Capital
- Details: Spark Capital is a venture capital firm that partners with entrepreneurs to build disruptive, market-leading companies. They focus on early-stage investments.
- Investment Focus Areas: Technology, media, consumer products.
- Notable Investments: Twitter, Tumblr, Oculus.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm offering mutual funds, subadvisory services, and separate account management for individuals, institutions, and retirement plans.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Tesla, Amazon, Facebook.
What's Next for Lightmatter?
Lightmatter stands at the cusp of a transformative era, driven by the burgeoning demand for high-performance computing solutions in AI. With plans to expand its team and open a new office in Toronto, the company is poised to leverage its photonic technologies to meet the increasing computational needs of AI innovators. The recent $155 million funding round, bringing their valuation to $1.2 billion, underscores the vast opportunities ahead.
As Lightmatter continues to grow, future fundraising rounds seem inevitable to support its ambitious expansion and technological advancements. However, the company will need to navigate challenges such as managing rapid growth, maintaining technological leadership, and competing with industry giants. The path forward is promising but fraught with hurdles that will test Lightmatter's resilience and innovation.
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