CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sep. 23, 2024-- HyperLight Corporation, a leading provider of thin film lithium niobate (TFLN) photonic integrated circuits (PICs), today announced a US$37 million Series B investment led by Summit Partners. The round includes participation from existing investors Xora Innovation,a deep tech venture fund backed by Temasek, and Foothill Ventures. Peter Chung, Managing Director and CEO of Summit Partners, will join HyperLight’s Board of Directors.

The continuing need for more bandwidth and greater power efficiency, accelerated by AI, is driving the industry’s transition to next-generation photonics technology. Current PICs have performance limitations due to their material properties and have become bottlenecks for high-performance optical communication. HyperLight’s TFLN PICs deliver unmatched bandwidth and energy efficiency well-aligned with the current and future needs of AI/data center infrastructure, telecommunications optical networks, and high-performance computing. Since the company’s founding in 2018, HyperLight 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 Corporation. “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. We are ready to serve the industry with high-speed and energy-efficient photonic IC solutions designed to enable the network of the future.”

About HyperLight Corporation

HyperLight delivers high-performance photonic ICs and cutting-edge photonics solutions. Founded in 2018 in Cambridge, MA, USA, HyperLight has been at the forefront of industrializing TFLN technology. The company designs, manufactures, and markets PICs based on its proprietary production grade TFLN platform, serving customers worldwide across optical communications, industrial equipment, and emerging photonics markets. HyperLight is dedicated to providing its customers with the highest performance and competitive total cost of ownership at scale. For more information, please visit https://hyperlightcorp.com/, or follow us on LinkedIn.

About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Notable investments in the communications technology sector include Acacia Communications, Arista Networks (NASDAQ: ANET), Ditech Networks, E-TEK Dynamics, Finisar, Hittite Microwave, MACOM (NASDAQ: MTSI), PowerWave Technologies, Sirenza Microdevices and Ubiquiti (NYSE: UI). Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please visit www.summitpartners.com or follow on LinkedIn.

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Source: HyperLight Corporation