Shanghai-based optical computing company Lightelligence has raised over 1.5 billion yuan ($210 million) in a Series C financing round to advance the commercialization of its optical computing solutions. Key investors in this round include China Mobile, Shanghai State-Owned Capital Investment, CRHC Fund, Pudong Innovation Investment, and existing shareholders such as CAS Star, Yijing Capital, and an undisclosed Internet technology giant.
Founded in 2017 and led by CEO Shen Yichen, a physicist with a PhD from MIT, Lightelligence focuses on integrated optical computing accelerators that use photons instead of electrons to perform computations. This photonics-based approach offers significant improvements in computing speed and energy efficiency, with potential to revolutionize artificial intelligence and other computing applications.
Shen stated that the company is at a critical stage in scaling integrated photonics for computing and projects that 30% of global intelligent computing centers will utilize photonic chips within five years. The new funding will accelerate the development of Lightelligence’s core technologies and promote widespread adoption of photonic computing solutions.
Earlier investors include Baidu Ventures, which led the company’s angel round in 2018 and participated in the $26 million Series A round in 2020, along with MPCi (formerly Matrix Partners China), CICC Capital, Vertex Ventures China, China Merchants Venture Capital Management, and FreesFund.
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Sounds awesome Sriram!!