Bill Gates-backed semiconductor startup Lumotive raises $45M

Lumotive, a Redmond, Wash.-based startup that manufactures semiconductor chips tailored for 3D sensors, raised $45 million in a Series B round.

Gates Frontier, an investment arm of Microsoft co-founder Bill Gates, co-led the round with Silicon Valley fund MetaVC.

Lumotive, which launched in 2017 and spun out of Bellevue, Wash.-based Intellectual Ventures, focuses on optical semiconductor technology that can “steer” laser light and is used in mobile devices, autonomous vehicles, and robots.

The company’s tech offers an alternative to traditional LiDAR systems and aims to make 3D sensing cheaper, faster, and more scalable.

“This funding marks a pivotal moment in the evolution of programmable optics,” Lumotive CEO Sam Heidari said in a press release.

The company said it will use the fresh cash to support strategic growth areas include data center AI infrastructure, as well as aerospace and defense.

Lumotive was founded by William Colleran, who departed in June 2021, and Gleb Akselrod, the company’s current chief technology officer. Hedar, the former CEO and chairman and Quantenna Communications, joined in October 2021.

Other investors include Swisscom Ventures, East Bridge, EDOM, Grazia, Hokuyo Inc., TSVC, Quan Funds, USAA, and HiMax Inc.

Samsung Ventures led a previous $13 million round in 2023. The company has raised more than $90 million to date.

The Wall Street Journal first reported on the new funding.