Venture Capital News: Light Announce $25M Series B Financing
PALO ALTO, CA, Light today announced a $25 million series B financing led by Formation 8 Hardware Fund.
Core news facts:
Light, a team of creative technologists on a mission to reimagine the art and science of photography, today announced a $25 million series B financing led by Formation 8 Hardware Fund.
Additional participants in the round include StepStone Group LP, Bessemer Venture Partners (BVP), CRV, Foxconn's FIH Mobile Ltd., GLOBALFOUNDRIES CEO (and former Motorola Mobility Chairman and CEO), Sanjay Jha, and CrunchFund.
Proceeds from this round will support further development of Light's patented camera technology, expand their team and scale production infrastructure.
Light was co-founded by Dave Grannan (CEO) and Rajiv Laroia (CTO) in 2013.
Further financial terms of the round have not been disclosed.
For more information about Light, please visit www.light.co.
Dave Grannan, CEO and co-founder, Light:
'Mobile photography has reshaped how we consume, share and create content and there's a huge opportunity to give consumers even better options. This Series B round led by Formation 8 Hardware Fund is a pivotal moment for Light as we look to expand our team and bring our camera technology to market. With Formation 8 Hardware Fund and other partners, we can reimagine photography and make high-quality imaging universal.'
Additional insights from Dave on what this funding means for the company can be found on Light's blog, spot.light.co.
Lior Susan, General Partner, Formation 8 Hardware Fund:
'Digital photography is a nearly ubiquitous part of everyday life, but was begging for a technology overhaul. Light's camera has the potential to displace camera phones and unwieldy SLR cameras, enabling casual photographers to take beautiful, high-quality photos. We were very impressed with the Light team's technological expertise and vision, and Formation 8 Hardware Fund is thrilled to partner with them and together make a lasting impact on the future of photography.'
Light (http://light.co) is a team of creative technologists on a mission to reimagine the art and science of photography.
About Formation 8
Formation 8 is a technology investment firm focused on building transformative global companies. The firm is a sought-after strategic partner to entrepreneurs, providing active management support and leveraging its deep networks around the world to help portfolio companies accelerate their growth. Founded in 2011, the firm has led early growth investments in innovative hardware and software companies like Oculus and Relate IQ, and has offices in San Francisco and Palo Alto, California and business development teams on the ground in Seoul, Singapore, Beijing and Shanghai.
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