Ex-Apple Face ID engineers' startup Lyte raises $165M at $1.6B valuation
What's the deal? Lyte, a robotics and AI startup founded by former members of Apple's Face ID team, has raised about $165 million in a Series B round that values the company at $1.6 billion. The financing more than triples its previous valuation.
Who's backing it? Maverick SiliconDealroom has a profile for this one. Try Dealroom → led the round, with participation from existing investors Fidelity Management & ResearchDealroom has a profile for this one. Try Dealroom → — which led an earlier Series B — Atreides ManagementDealroom has a profile for this one. Try Dealroom →, Key1 CapitalDealroom has a profile for this one. Try Dealroom →, and Ora GlobalDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Lyte builds technology to help robots see better, drawing on its founders' work on Apple's facial-recognition system. Since its 2021 founding, the startup has raised $272 million in total.
The signal: The round sits in the 99th percentile by size for US Series B semiconductor deals, against a sample of 540 rounds. That scale signals strong investor appetite for the hardware layer powering robotics and AI.
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