The financing, led by Maverick Silicon, brings Lyte's total raised to $272 million. Fidelity Management And Research Co., which led Lyte's Series B, also participated in the Series C, along with Atreides Management, Key1 Capital, Ora Global (formerly Exor Ventures), and additional existing and new investors. The Sunnyvale, California-based company was founded in 2021 by Alexander Shpunt, Arman Hajati and Yuval Gerson ' a trio of former Apple engineers who worked on the iPhone giant's advanced sensing and perception technologies. Shpunt had also previously co-founded PrimeSense, a startup whose 3D-sensing technology powered Microsoft Kinect before Apple acquired the company in 2013. Lyte is building custom silicon, 4D sensing, RGB, motion awareness and AI software to help robots sense where they are and what is moving around them. Initially, its customers are primarily in the warehousing and manufacturing industries. 'Physical AI will create entirely new categories of robots, and...
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