Lightium raises $7 million in oversubscribed seed round
30.09.2024Swiss startup Lightium develops photonic technologies, specifically photonic integrated circuits that can transmit data at lightning speed. The $7 million seed funding round, led by Vsquared Ventures and Lakestar, will accelerate the commercialization of Lightium’s production-grade Thin-Film Lithium Niobate Photonic Integrated Circuits foundry services.
The rapid rise of AI is leading to skyrocketing volumes of data and unprecedented energy consumption. By 2030, data centers will handle 100x more data and consume up to 10% of the world’s electricity. Schlieren-based startup Lightium aims to turbocharge the performance of data centers and reduce their energy consumption using Thin-film lithium niobate (TFLN), a glass-like material that overcomes the limits of traditional semiconductor transceivers. The startup’s solution significantly increases transmission bandwidth and reduces energy consumption in data centers – that means data rates of 1.6 or 3.2 Gb/s for customers, making it the first company to design and manufacture TFLN-based photonic chips at an industrial scale.
The company was founded by Amir Ghadimi (r), who previously held significant positions at CSEM. Co-founders Frédéric Loizeau and MIT professor and serial entrepreneur Dirk Englund also bring complementary skills in sales and photonics.
TFLN is one of the most difficult materials to process and has been, to this date, restricted to prototyping in academic and R&D settings. Lightium addresses this challenge with its proprietary manufacturing process geared towards volume production. Lightium is setting up a pilot production to assess manufacturing yield with tens of thousands of devices, which would then be field-tested in data centers. The production is set to grow rapidly, with a target of 20 million units a year in the next four years. The company has partnered with a manufacturing partner in the Western world to meet this production demand.
Lightium is working with several customers worldwide, including large organizations dealing with data, such as hyper-scalers and transceiver manufacturers. The versatility of Lightium’s TFLN platform extends its benefits to other applications and markets, such as satellite communication, quantum computing, novel optical computing architectures, and LIDAR applications. The team is also growing rapidly – with currently 8 people, Lightium aims to grow to 30–35 people by the end of next year and expects to continue growing by 50% annually.
The oversubscribed seed round of $7 million was co-led by Vsquared and Lakestar with participation from another business angel. The funding will fuel the advancement of Lightium’s manufacturing, design, and testing capabilities, optimize its Process Design Kit (PDK), and expand its partnership network to support wide-scale commercialization. Currently, in a closed beta run with strategic partners, Lightium aims to launch its foundry services at the beginning of 2025. The company is actively recruiting talent to help fuel the company's growth and innovation.
Jakob Lingg, Investment Manager at Vsquared, says: "Optical communication companies have clear roadmaps for future data transmission and energy requirements. As silicon struggles to meet these demands, there is a strong market pull for alternative materials with superior electro-optical properties. These materials must not only meet strict performance standards but also endure the harsh environments of data centers. TFLN emerges as a promising solution."
(www.startupticker.ch)