Former Apple Engineers' AI Startup Lyte Raises $165M
Lyte AI, a startup founded by former Apple engineers specializing in physical AI and robotic perception, has secured $165 million in Series C funding. The company achieved a post-money valuation of $1.6 billion.
Lyte AI, a physical AI startup developing sensing and perception technology for robots, has raised $165 million in Series C funding, reaching a post-money valuation of $1.6 billion. The round was led by Maverick Silicon and included participation from Fidelity Management And Research Co., among other investors.
Founded in 2021 by a team of former Apple engineers with expertise in advanced sensing technologies, Lyte AI is building hardware and software to enable robots to understand their surroundings. The founders previously contributed to technologies like Apple's Face ID.
The company's technology stack includes custom silicon, 4D sensing, RGB, and AI software designed to provide robots with precise, real-time awareness of geometry and motion. Its initial target markets are the warehousing and manufacturing industries.
Lyte AI, which emerged from stealth earlier this year, had previously announced raising $107 million in Series A and B funding. CEO Alexander Shpunt stated the company aims to provide the foundational perception layer for future robotic applications.
The substantial funding reflects a broader trend of increased investment in the physical AI sector. Andrew Homan, managing partner at Maverick Silicon, will join Lyte AI's board of directors following this financing round.