Funding round
Lightmatter Series D
Lightmatter, which works in photonic computing solutions development in Mountain View, raised $400M in a Series D round announced on 16 Oct 2024, led by T. Rowe Price, at a $4.40B post-money valuation. 4 firms took part, 2 of them already investors. It is Lightmatter's fourth venture round on record; the one before was a Series C in Dec 2023.
$400M
Amount raised
$4.40B
Post-money valuation
$4.00B pre-money
4
Investors
1 lead
3.7x
Step-up from the Series C
$1.20B in Dec 2023
9.1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Lightmatter at $4.40B after the new money, 3.7 times the $1.20B of its Series C (Dec 2023). The $400M bought investors about 9.1% of the company. It came 10 months after Lightmatter's Series C. It is 61% of the $657M Lightmatter has raised in the venture rounds on record. No later venture round is on record for Lightmatter.
Lightmatter's funding rounds
Lightmatter has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
T. Rowe Price led the round with 3 other firms. Fidelity Management & Research Company and GV had backed Lightmatter before.
Lead investor
- T. Rowe Price new investor
Also in the round
- Fidelity Management & Research Company existing investor
- GV backs 428 venture-backed companies existing investor
- Fidelity
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
13 Series D rounds in Electronical Components Manufacturing within a year either side disclosed an amount; the median was $62M, and this round was 6.5 times the median. The closest in time, other companies' Series D rounds in Electronical Components Manufacturing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Electronical Components Manufacturing | 19 Nov 2024 | $60M | not disclosed | Virala Group |
| Groq Electronical Components Manufacturing | 5 Aug 2024 | $640M | $2.80B | BlackRock Private Equity Partners and BlackRock |
| Ayar Labs Electronical Components Manufacturing | 11 Dec 2024 | $155M | $1.00B | Advent International and Light Street Capital |
| Electronical Components Manufacturing | 3 Dec 2024 | $35M | not disclosed | Decarbonization Partners |
| Electronical Components Manufacturing | 31 Mar 2025 | $75M | not disclosed | Spark Capital |
| Electronical Components Manufacturing | 3 Mar 2025 | $40M | not disclosed | Sutter Hill Ventures |
| Electronical Components Manufacturing | 1 Feb 2024 | $91M | not disclosed | not named |
| Electronical Components Manufacturing | 25 Jun 2025 | $62M | not disclosed | Innovation Industries and Invest-NL |
Sources
Where this comes from
Reported by 6 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Lightmatter raise in its Series D round?
Lightmatter raised $400M in its Series D round, announced in Oct 2024.
Who led Lightmatter's Series D round?
T. Rowe Price led it, with Fidelity Management & Research Company, GV and Fidelity.
What was Lightmatter's valuation at the Series D round?
$4.40B post-money ($4.00B pre-money).
How does it compare with other Series D rounds in Electronical Components Manufacturing?
13 Series D rounds in Electronical Components Manufacturing within a year either side disclosed an amount; the median was $62M, and this round was 6.5 times the median.