Boston-based company Lightmatter has successfully raised $154 million in Series C funding, bringing its total funding to over $270 million. The funding round attracted notable investors, including SIP Global, Fidelity Management & Research Company, Viking Global Investors, GV (Google Ventures), and HPE Pathfinder, along with participation from existing investors.
Under the leadership of its CEO, Lightmatter has developed cutting-edge photonic processors that outperform traditional processors in terms of speed, energy efficiency, and heat reduction. The company is now ready to introduce its revolutionary photonics-enabled products to the market: Envise, Passage, and Idiom.
With the newly secured funds, Lightmatter aims to expand its operations and accelerate the development of these groundbreaking products. By leveraging photonic technology, cloud providers, semiconductor companies, and enterprises can unlock unparalleled performance and energy savings for advanced AI and HPC workloads.
In 2022, Lightmatter made significant strides by attracting top talent to its leadership team, including industry experts such as Richard Ho, who spearheaded Google’s Tensor Processing Unit program, and Ritesh Jain, a former leader in datacenter chip packaging at Intel. Jessie Zhang, previously responsible for corporate financial planning at Apple, joined as VP of Finance, while Steve Klinger, former VP at Innovium, assumed the role of VP of Product. With over 20 active roles across product development, research and development, and engineering, Lightmatter holds a portfolio of over 150 patents worldwide, positioning itself as a pioneer in the field of photonic technology.