Lyte raised $165 million in Series C funding at a $1.6 billion post-money valuation. The round was led by Maverick Silicon. The financing brings Lyte’s total capital raised to $272 million.
Funding Participants
Fidelity Management And Research Co. participated in the Series C after leading the company’s Series B. Additional investors included Atreides Management, Key1 Capital, Ora Global (formerly Exor Ventures), and other existing and new investors. Andrew Homan, managing partner at Maverick Silicon, joined Lyte’s board of directors.
Company Background
Lyte was founded in 2021 in Sunnyvale, California by Alexander Shpunt, Arman Hajati and Yuval Gerson, all former Apple engineers. Shpunt previously co-founded PrimeSense, whose 3D-sensing technology powered Microsoft Kinect and was acquired by Apple in 2013. The company builds custom silicon, 4D sensing, RGB, motion awareness and AI software for robots, with initial customers in warehousing and manufacturing. Lyte operated in stealth until earlier this year, when it announced $107 million in Series A and B funding.
Physical AI Funding Data
According to Crunchbase News, global venture funding in physical AI totaled $47.4 billion across 521 deals in the first half of 2026. That amount is nearly four times the $12 billion raised across 470 deals in the second half of 2025 and nearly 80 percent higher than the $26.4 billion raised across 436 deals in the first half of 2025. According to Crunchbase News, Lyte is developing sensing and perception technology for robots.
