HyperLight, a provider of thin film lithium niobate photonic integrated circuits, secured a $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.
“We believe TFLN will be the photonics platform of the future and identified HyperLight as an emerging category leader,” Chung said. “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,” Mian Zhang, president and CEO of HyperLight, said. “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.”
