Lightmatter, a Boston-based photonic computing startup, has raised $400 million in a Series D funding round led by new investor T. Rowe Price. The company’s valuation has skyrocketed to $4.4 billion, nearly quadrupling from its previous valuation of $1.2 billion after a $155 million raise in December 2023. Other investors in the round include Fidelity Management, Research Co., and GV.
Founded in 2017, Lightmatter focuses on using silicon photonics to accelerate AI computations while reducing power consumption—a critical issue for AI data centers that are proliferating as Big Tech companies ramp up investments in artificial intelligence infrastructure. Photonic computing allows Lightmatter to link chips and perform deep learning calculations faster and more efficiently than traditional electronics.
The Series D raise brings the company’s total funding to $850 million, positioning Lightmatter as a key player in tackling the energy and scalability challenges faced by modern AI data centers. CEO Nick Harris indicated that this round may be the startup’s final private funding round.
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- Metinko, Chris. “Photonic Startup Lightmatter Raises $400M Amid Data Center Frenzy; Hits $4.4B Valuation.” Startup Money, October 16, 2024.
- Reuters. “Lightmatter Raises $400M for Photonic AI Data Centers.” Reuters, October 16, 2024.
