- General
- July 18, 2018
- 6 minutes read
Camera maker Light raises $121 million Series D round from Softbank and Leica
image credit : Light 5 year old Camera maker Light renowned for its L16 camera equipped with 16 miniature cameras…
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image credit : Light
5 year old Camera maker Light renowned for its L16 camera equipped with 16 miniature cameras which combines its series of high quality images from different perspectives into a single one when the shutter is pressed has now raised a huge $121 million Series D round from Softbank’s Vision Fund and major camera manufacturer Leica.
This investment brings the total raised by the Palo Alto based company to $186 million to expand its product ecosystem beyond mainstream cameras into the field of drones, robotics and autonomous
Light is also bringing its digital photography technology to smartphones with its camera technology earmarked to be used in a not yet disclosed smartphone which will be made available this September.
image credit : Light
The 6 year old startup whose $1,950 camera has gained positive reviews although very expensive for its super high-quality imaging is now looking to take its technology to the field of security, aerial applications, self-driving technology and Robotics after Softbank founder and head Masayoshi Son majored on its intelligent imaging technology having huge potential in applying to transformative industries and disrupting the widely used Lidar camera system for autonomous vehicles, as per Forbes.
This investment now places the company whose previous backers also include the likes of Google Ventures, Bessemer Venture Partners, Eclipse and Qualcomm Chairman Paul Jacobs among the disruptive companies Softbank has placed huge bets on through its $100 Billion Vision Fund which has also made huge investments in the likes of biotech company Roivant, Uber, Compass, WeWork, Paytm, PolicyBazaar, Cruise Automation and several others.
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| Light’s rearview mirror concept |
image credit : Light
The company has been in talks with major ride-hailing firms Uber, Grab and Cruise Automation who are all major investment portfolios of Softbank concerning application of Light’s technology into its autonomous vehicle programs according to its co-founder and CEO Dave Grannan who has headed the company since its start.
“Light is a world leader in computational imaging. By replacing mechanical complexity with digital sophistication, they have been able to drastically reduce the size, weight, and cost of traditional cameras. This has paved the way for a whole new era of intelligent imaging applications,” said Akshay Naheta, Partner, SoftBank Investment Advisers. “We believe that the opportunity to proliferate these technologies across other data-rich imaging platforms means that Light will completely revolutionize the world of mobile imaging and we are excited to be supporting the team in realizing this ambition.”
In adddition, Light co-founder and current CTO Rajiv Laroia added “It is humbling to have the support of the most iconic camera brand in the world. We are excited by the overwhelming potential of the collaboration with Leica,” concerning the investment by major German camera manufacturer Leica.
