Camera technology company Light has announced the closing of a $121 million Series D funding round led by the SoftBank Vision Fund, with participation from Leica Camera AG.
The SoftBank Vision Fund investment will be made in tranches, subject to certain conditions, the company said in an official release.
Founded in 2013 by Dave Grannar, CEO, and Rajiv Laroia, CTO, Light’s technology enables machines to see like humans do, using sophisticated algorithms to combine images from multiple camera modules into a single high-quality image and enabling highly-accurate 3D depth extraction.
It also develops highly accurate depth mapping which can be used to create rich and complex environments for a wide range of applications including augmented reality.
Light said the fresh capital will allow it to expand the reach of its imaging platform beyond consumer photography and into security, robotics, automotive, aerial, and industrial imaging applications.
“Light’s technology is a revelation, showing that several small, basic camera modules, combined with highly powerful software, can produce images that rival those produced by cameras costing and weighing orders of magnitude more. We’re just getting started. Having the support of the SoftBank Vision Fund as a strategic investor means this technology will see more of the world sooner than we could have ever imagined,” said Light CEO and cofounder Dave Grannan.
Joining Softbank as an investor in Light is the renowned manufacturer of cameras and sport optics products, Leica Camera AG.
Commenting on the investment, Dr. Andreas Kaufmann, Leica Chairman of the Supervisory Board, said: “With the rapid development of computational photography, partnering with the innovators at Light ensures Leica to extend its tradition of excellence into the computational photography era.”
Lights raised its Series C funding in 2016, bagging $30 million in a round led by GV (formerly Google Ventures) used to scale its global supply chain.
The company is best-known as the creator of the L 16 camera delivers up to 52-megapixels of image resolution, five times optical zoom, unparalleled low-light performance, creative control over focus, and depth effects after capture.
Light said it will “shatter the expectations of mobile photography” later this year when the first mobile phone incorporating Light’s technology will be available to consumers.
Recently, Softbank Group is said to be in talks with India-based hotel chain Oyo Rooms to discuss a potential $500-$800 million funding after the startup’s previous $250 round led by SoftBank Vision Fund last September.
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