Lumotive raises $45 million to expand sales of LCM tech
The oversubscribed round included new investors Swisscom Ventures, East Bridge, EDOM, Grazia, Hokuyo Inc. and TSVC, as well as support from existing investors such as Gates Frontier.
Lumotive, a company in the programmable optical semiconductor products space, has closed a USD 45 million Series B funding round to accelerate sales growth of its Light Control Metasurface (LCM) technology.
The oversubscribed round included new investors Swisscom Ventures, East Bridge, EDOM, Grazia, Hokuyo Inc. and TSVC, as well as support from existing investors such as Gates Frontier, MetaVC Partners, Quan Funds, USAA, and HiMax Inc, according to a media release.
“Lumotive's unique technology represents a fundamental advance in optical semiconductors,” said Pär Lange, Investment Partner at Swisscom Ventures. “Their proven success in automotive and industrial markets, combined with their ability to precisely control light at the chip level, enables applications that were previously impossible.”
“This funding marks a pivotal moment in the evolution of programmable optics,” said Dr. Sam Heidari, CEO of Lumotive. "Our LCM technology has already driven innovation across autonomous vehicles, advanced robotics, and industrial applications. With this new investment, we will accelerate sales in other new markets, particularly in AI data centers and satellite communications.”
This new funding will help Lumotive’s global market expansion, boost data center AI infrastructure, and enhance applications in the aerospace and defense sectors, the company said.
“Having supported Lumotive since its earliest days, we've witnessed the rapid evolution of the company's core technology and its expansion into diverse global markets,” said Conrad Burke, Managing Partner at MetaVC Partners. “This new funding round marks an exciting milestone in the company's growth.”
