SIP Global Partners Announces its Follow-On Investment in Photonics Compute Leader, Lightmatter, Now Valued at $1.2B

SIP Global Partners Announces its Follow-On Investment in Photonics Compute Leader, Lightmatter, Now Valued at $1.2B

BOSTON, Jan. 9, 2024 /PRNewswire-PRWeb/ -- SIP Global Partners, a US-Japan VC firm investing in early-stage decarbonization technology, announced today its investment in Lightmatter, the leader in photonics, as part of the company's latest funding round following its lead investment in the previous funding round.

Lightmatter develops and deploys the industry's fastest and most efficient photonic processors, interconnects and software. The company's foundational technology increases performance and reduces power consumption, advancing the next generation of compute. Lightmatter has raised more than $420M to-date and is valued at over $1.2B.

Lightmatter's full stack of hardware and software solutions (Envise, Passage, and Idiom) fundamentally disrupts existing AI and high-performance computing (HPC) paradigms while dramatically reducing energy consumption. The company is uniquely positioned to provide the silicon photonics innovation necessary for generative AI, advanced robotics and telecommunications.

"By increasing speed, lowering cost, and reducing environmental impact, our technologies can continue to push the limits of what's possible, fueling greater AI adoption and innovation," stated Lightmatter co-founder and CEO, Nick Harris. "We are thankful for the support of our investors, each of whom share our vision of Lightmatter playing an integral role in the future of computing."

"AI represents enormous potential value on a global scale – across all sectors and geographies," stated Jeffrey Smith, General Partner of SIP Global Partners. "We strongly believe that Lightmatter's technology and solutions are critical to reaching that potential."

The additional financing will accelerate Lightmatter's path to deliver and scale high performance compute to the world's biggest cloud providers, semiconductor companies and enterprises. Funds will be used to accelerate time to market, scale the company's best-in-class team and open the Toronto office.

About SIP Global Partners

SIP Global Partners invests in early-stage companies driving the decarbonization of the world's largest emitting industries at GNP level scale. SIP leverages its dual-headquarters in the US and Japan, its principals' 40-year history of building global companies and unique market access to accelerate growth for portfolio companies in the Japan and worldwide. For more information, visit sipgp.com.

Media Contact

Melisa Brown, SIP GP, 1 6307431602, [email protected], https://sipgp.com/

SOURCE SIP GP