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LightSpeed Photonics raises $6.5 Mn led by pi Ventures

EntrackrEntrackr · 3d ago
LightSpeed Photonics raises $6.5 Mn led by pi Ventures
Medial

LightSpeed Photonics raises $6.5 Mn led by pi Ventures LightSpeed Photonics has raised $6.5 million in a pre-Series A round led by pi Ventures, with participation from 500 Global, Indian Accelerator, 8X Ventures, Java Capital, and Bay Area angels. The company has now raised $8.5 million to date, including grants. The proceeds will be used to set up an R&D facility to reduce pilot turnaround time. LightSpeed will also strengthen its work with OEM, EMS, and ODM partners as it moves toward commercialising its optical interconnect product line for data-centre infrastructure. Founded in 2021 by Rohin Y and Ramana Pamidighantam, LightSpeed Photonics develops compact optical interconnects for data movement in AI and high-performance computing systems. Its short-wavelength laser technology is built to support higher data speeds, lower power use, and smaller hardware size. The firm targets applications across AI, HPC, edge computing, telecommunications, aerospace, and advanced manufacturing.

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Exclusive: Wealthtech startup Stable Money raises $15 Mn in new round

EntrackrEntrackr · 1y ago
Exclusive: Wealthtech startup Stable Money raises $15 Mn in new round
Medial

Wealthtech startup Stable Money has raised over Rs 123 crore nearly $15 million in a new round from RTP Capital, Lightspeed India, and Matrix Partner. The Bengaluru-based company has become one of the few startups to close two rounds within a year, especially during the so called funding winter. The board at Stable Money has passed a special resolution to issue 77,135 CCPS at price of Rs 16,019 each to raise Rs 123.56 crore or $14.74 million, its regulatory filing accessed from the Registrar of Companies (ROC) shows. RTP Capital led the round with Rs 54.26 crore ($6.5 million) while Lightspeed India and Matrix Partners India pumped in Rs 34.64 crore ($4.15 million) each in this round. In August 2023, Stable Money scooped up $5 million in its first equity fundraise led by Matrix Partners and Lightspeed. Titan Capital, Mar Shot Ventures and a clutch of prominent angel investors also participated in the round. As per startup data intelligence platform TheKredible, Stable Money will be valued at around $60 million post money. This is nearly four fold jump in valuation from $16.5 million in the last round. Founded in late 2022 by Saurabh Jain and Harish Reddy, Stable Money is building a fixed-return investment platform to provide financial consultation services to investors. The platform will also publish financial literacy content on its online platform to create awareness among investors. A clutch of wealthtech startups have managed to score decent funding in the ongoing calendar year. Recently Deserv raked in $32 million in its Series B round led by Premji Invest. In May, wealth management platform Wealthy raised $5.4 million in a new round led by Alpha Wave Incubation Fund.

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