HyperLight raises $37M funding
US-based start-up HyperLight has raised $37 million in Series B investment to grow its thin film lithium niobate (TFLN) photonic integrated circuits (PIC) business
The round, led by Summit Partners, includes participation from existing investors Xora Innovation, a tech venture fund backed by Temasek, and Foothill Ventures. Peter Chung, managing director and CEO of Summit, will join HyperLight’s board of directors.
HyperLight says its TFLN PICs deliver unmatched bandwidth and energy efficiency well-aligned with the current and future needs of AI/data centre infrastructure, telecommunications optical networks, and high-performance computing.
Since the company’s founding in 2018 in Massachusetts, the company has delivered industrial-scale TFLN PICs with a trusted supply chain. This new financing allows the company to accelerate product development and meet rapidly growing customer demand.
“We believe TFLN will be the photonics platform of the future and identified HyperLight as an emerging category leader,” said Peter Chung of Summit Partners. “The HyperLight team has established an impressive track record of pioneering innovation and strong execution. In a short time, the company has evolved this critical technology into market-ready products with a production-ready supply chain. We look forward to supporting the HyperLight team and working alongside the company’s current investors as they pursue their vision to build a category-defining company in photonics.”
“We are thrilled to welcome Summit Partners as a new investor given their capabilities and deep experience in photonics, including investments in E-TEK Dynamics, Finisar, Macom and Acacia Communications,” said Mian Zhang, president and CEO of HyperLight . “This financing round, supported by investors with demonstrated experience in the photonics industry, will enhance our ability to serve the current and future needs of our customers as a trusted innovation partner..”
