Lightmatter, a startup that makes use of mild to hyperlink chips collectively and to do calculations for the deep studying crucial for AI, locked up a $400 million Collection D led by new investor T. Rowe Price at a $4.4 billion valuation.
The brand new spherical almost quadruples its earlier valuation of $1.2 billion in December after a $155 million elevate led by GV — which together with Fidelity Management and Research Co. additionally participated within the new spherical.
As Large Tech pours lots of of billions of {dollars} into new AI knowledge facilities, Lightmatter is attempting to unravel the issues round vitality consumption and scalability of these new facilities.
The corporate’s tech makes use of silicon photonics that may pace up processes whereas additionally utilizing much less energy. Whereas the thought of utilizing mild in computing isn’t new, creating the parts has traditionally been difficult.
Large cash
The brand new Collection D is Lightmatter’s largest thus far, however the Boston-based firm is just not new to massive raises. In Could 2023, the startup locked up a $154 million raise earlier than extending that spherical in December.
Based in 2017, Lightmatter has raised $850 million, per the corporate.
Co-founder and CEO Nick Harris told Reuters, “That is most likely our final personal funding spherical.”
Lightmatter’s was not the one giant elevate by a photonic startup this week. Xscape Photonics — a New York-based startup additionally utilizing photonics know-how to deal with the vitality, efficiency and scalability challenges of AI knowledge facilities — raised a $44 million Collection A led by IAG Capital Partners and with funding from the likes of Cisco Investments and Nvidia.
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