How Much Did Lightmatter Raise? Headquarters, Funding & Key Investors

Lightmatter, founded in 2017 and headquartered in Boston, Massachusetts, has raised a total of $850 million across multiple funding rounds, reaching a $4.4 billion valuation as of October 2024. The company develops 3D-stacked photonic chips that use light instead of electricity to enable ultra-fast, energy-efficient AI computing. Key investors include GV (Google Ventures), Viking Global Investors, and T. Rowe Price. With 145 employees, Lightmatter is revolutionizing high-performance computing for AI, cloud, and telecom sectors while expanding globally with new offices and advanced product innovations.

How Much Did Lightmatter Raise? Funding & Key Investors

Lightmatter joined the Unicorn Club in December 2023 after raising a $155M Series C-2 funding round, achieving a valuation of $1.2B. The company develops 3D-stacked photonic chips for AI computing, enabling faster data processing with lower power consumption. Lightmatter’s technology addresses the limitations of traditional silicon-based processors, serving sectors such as artificial intelligence, cloud computing, and telecommunications.

What Is Lightmatter and What Does It Do?

Lightmatter, founded in 2017 by Darius Bunandar, Nicholas Harris, and Thomas Graham, is headquartered in Boston, Massachusetts, providing access to a vibrant AI and hardware ecosystem, emerging talent, and funding opportunities outside Silicon Valley.

Lightmatter employs 145 people and focuses on photonic chips that replace electricity with light for ultra-fast computation, enabling high-performance AI and cloud computing workloads.

How Much Funding Has Lightmatter Raised?

1. Series D

Amount Raised: $400M
Date: October 2024
Lead Investors: T. Rowe Price
Motivation: To further scale operations and continue innovation in photonic computing technology.

2. Series C-2

Amount Raised: $155M
Date: December 2023
Lead Investors: Google Ventures, Viking Global Investors
Motivation: To expand the team, open a new office in Toronto, and enhance AI workload performance.

3. Series C

Amount Raised: $154M
Date: May 2023
Lead Investors: Not publicly disclosed
Motivation: To meet increasing demand for high-performance computing solutions.

4. Series B

Amount Raised: $80M
Date: April 6, 2021
Lead Investors: Viking Global Investors
Motivation: To expand the team and accelerate product development for AI and cloud computing markets.

5. Series A

Amount Raised: $22M
Lead Investors: Google Ventures
Motivation: To scale up production and begin commercializing photonic chips.

6. Series A

Amount Raised: $11M
Lead Investors: Matrix, Spark Capital
Motivation: To develop initial photonic chip prototypes and validate the technology.

Total Funding Raised: $850 Million

Current Valuation: $4.4 Billion (as of Oct 2024)

Latest Funding Date: October 2024

Key Investors

1. GV (Google Ventures)

Details: GV is the venture capital arm of Alphabet Inc., investing in seed, venture, and growth-stage technology companies.
Investment Focus Areas: Technology, life sciences, consumer products.
Notable Investments: Uber, Slack, Nest.

2. Viking Global Investors

Details: A global investment firm managing capital across public and private equity for institutions and high-net-worth clients.
Investment Focus Areas: Technology, healthcare, consumer goods.
Notable Investments: BridgeBio Pharma, Peloton, Snowflake.
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3. Matrix

Details: Early-stage venture capital firm investing in technology, healthcare, and consumer internet.
Investment Focus Areas: Technology
Notable Investments: HubSpot, Oculus, Zendesk.

4. Spark Capital

Details: Venture firm focusing on early-stage disruptive technology and media companies.
Investment Focus Areas: Technology, software, and services.
Notable Investments: Twitter, Tumblr, Oculus.

5. T. Rowe Price

Details: Global investment management firm offering mutual funds and asset management services.
Investment Focus Areas: Technology, software, and services.
Notable Investments: Tesla, Amazon, Facebook.

Where Is Lightmatter’s Headquarters?

Lightmatter is headquartered in Boston, Massachusetts, providing access to a vibrant AI and hardware ecosystem, emerging talent, and funding opportunities outside traditional tech hubs such as Silicon Valley and New York.

What’s Next for Lightmatter?

Lightmatter plans to expand its team and open a new office in Toronto, aiming to meet the growing computational demands of AI innovators. With photonic chips at its core, the company will continue to advance high-performance computing solutions. Future fundraising is likely to support its ambitious expansion, though challenges include managing rapid growth and competing with established tech giants.

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