The Photonic AI Hardware Firm Lightmatter Raises $80M in Series B Funding by Coldewey for TechCrunch
ai 80m series 113mcoldeweytechcrunch – The Photonic computing company Lightmatter raised $80 million in Series B funding, bringing the total amount invested so far to $113 million. It is located in Boston, Massachusetts, USA.
Hewlett Packard Enterprise, Lockheed Martin, SIP Global Partners, as well as returning investors GV, Matrix Partners, and Spark Capital, participated in the round that was led by Viking Global Investors.
Who is Lightmatter?
A photonics-based artificial intelligence hardware firm with its global headquarters in Boston, Massachusetts, is called Lightmatter Corporation. In order to create a new kind of computer that does calculations using light instead of electricity, the firm was created in 2017 by a group of researchers from MIT and Harvard. This will allow for considerably quicker and more energy-efficient processing for AI applications.
In addition, Olivia Nottebohm, a former chief operating officer of Dropbox, was welcomed to the Board of Directors by Lightmatter.
What is Lightmatter Technology Based On?
The technology of Lightmatter is built on photonic integrated circuits, which manipulate and process light similarly to how electronic circuits do with electricity using microscopic optical components. The “Lightmatter Accelerator,” their first offering, is a specialized AI chip that uses light-based processing to execute matrix multiplication, a fundamental deep learning operation. The business is seen as a promising new contender in the AI hardware market. It has attracted significant funding as well as interest from investors and the IT community.
Who is AI?
The term artificial intelligence (AI) refers to the creation of computer systems that are capable of doing activities that ordinarily require human intelligence, such as speech recognition, decision-making, visual perception, and language translation. We use it in anything from self-driving vehicles to tailored medicine. AI has grown in popularity as a subject of study recently.
There are numerous methods for creating AI, each having advantages and disadvantages. Machine learning is a popular technique that uses a huge dataset to train an algorithm to find patterns and predict outcomes from new data. Neural networks, a form of machine learning that mimics the organization of the human brain, are used in deep learning.
Concerns exist, nevertheless, on how AI will affect society. Some fear that as computers become more capable of performing tasks that were previously performed by people, AI could cause a significant loss of jobs. Concerns exist regarding the possible abuse of AI, such as the creation of autonomous weaponry.ai 80m series 113mcoldeweytechcrunch
Working collaboratively to guarantee that AI is developed is crucial for academics and governments to address these issues. It also includes deploying AI in an ethical and responsible manner. This entails creating strict safety guidelines for autonomous systems. Making sure AI is transparent and understandable and encouraging diversity and inclusiveness in the field of AI development.
The Photonic AI Hardware Firm Lightmatter Raises $80M in Series B Funding and Introduces Advanced Chips in the Market
Lightmatter is dedicated to inventing AI computing solutions that accelerate the development of AI while also reducing its environmental impact on the earth. Lightmatter is aware of the difficulties the chip industry faces. Since launching Mars, the first photonic computer in the world, Passage, a breakthrough wafer-scale technology to allow computer chips to connect at previously unheard-of rates, and most recently Envise, the first general-purpose photonic AI accelerator, the firm has experienced remarkable growth.
The pandemic pushed Lightmatter months behind schedule. With suppliers out of business and many in the industry suspending collaborations, delaying projects, and other things. But they emerged from it stronger. Lightmatter’s invention has evolved from a well-informed twinkle in the eye to the Envise, which they refer to as a “general-purpose photonic AI accelerator,” in recent years. It’s a server unit that can fit into standard data center racks. But has several photonic computing units that can do neural network inference tasks at incredible speed.
The round was led by Viking Global Investor. It was joined by HP Enterprise, Lockheed Martin, and SIP Global Partners. Later by prior investors GV, Matrix Partners, and Spark Capital. With the first $11 million A round. GV joined with a $22 million A-1 round and this $80 million. They have now raised roughly $113 million.
With only a few modifications, a lightmatter chip can perform one million computations per second. With a red laser source, twice as many with a second color, and three times as many with a third. Obtaining powerful lasers is the main challenge.
Despite the fact that other businesses are researching photonic computing and its potential uses, particularly in neural networks. Few, if any, appear to be close to releasing a product, and in any case, this market is currently experiencing a hockey stick moment.
Quotes by the Investors
1. Hewlett-Packard Enterprise
Paul Glaser, vice president and head of Hewlett Packard Pathfinder, stated that “Lightmatter unlocks performance increases over current products while delivering significant power savings. “HPE shares Lightmatter’s dedication to developing goods and services to enable our clients to operate sustainably and effectively; Lightmatter’s technology is a clear distinction.”
2. Matrix Partner
“Lightmatter has completed an incredible challenge with the ideal blend of ingenuity and tenacity. Taking the correct risks and getting beyond challenges that seemed “insurmountable” along the way. As a result, they created a disruptive solution that, in our opinion, will change the ML landscape.