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.
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“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.”
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.
“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.
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.
