Home / Business / Light raises $121M led by SoftBank as it prepares to bring its camera tech to smartphones

Light raises $121M led by SoftBank as it prepares to bring its camera tech to smartphones

Camera technology company Light is the latest to do the money dance with SoftBank’s massive Vision Fund after it raised a $121 million Series D round.

The funding round was led by Vision Fund, the near-$100 billion fund anchored by SoftBank, with participation from consumer camera giant Leica Camera AG.

Light is best known for its futuristic camera technology and shooters. The company first introduced the $1,950 L16 camera back in 2015, which then began shipping in 2017. The camera uses 16 lenses to capture 52 megapixel imagery which produces impressive results. Perhaps most notably, the L16 is tiny which makes it hugely portable and convenient.

Given the small form factor and the rise of mobile photography, it was with little surprise that earlier this month Light teased its first smartphone camera product. Exact details of what that product will finally look like are unclear, but a Light representative told TechCrunch that its mobile technology has been licensed to an OEM which plans to launch a Light-powered smartphone this coming September.

“In this era, pocketable, connected cameras can reconstruct the world in three dimensions and superhuman detail, cars are able to perceive the objects around them without the need for special sensors, and robots are able to thread the elusive needle autonomously,” Light said in a statement.

In addition, the company claims the tech, which supports up to nine cameras on the rear side of the phone, will “shatter the expectations of mobile photography.”

A representative said also that Leica and Light’s partnership may see the duo develop consumer products that utlize Light’s tech, although details of that are even less clear than the smartphone plan at this point.

That foray into mobile underscores the plans for this new round of funding for Light. The company said it intends to push its technology, which to date has been utilized in the consumer space, into security, robotic, automotive, aerial and industrial imaging verticals.

Check Also

Cryptocurrency wallet startup Cobo raises $13M Series A to enter the U.S. and Southeast Asia

Cobo, a cryptocurrency wallet startup headquartered in Beijing, has raised a $13 million Series A to enter new international markets. The round was led by DHVC and Wu Capital, a family office based in China. Cobo plans to expand in the United States and Southeast Asia, in particular Vietnam and Indonesia. Cobo is also now taking pre-orders for Cobo Vault, a hardware wallet (pictured above) that it claims is military grade. Cobo’s Series A brings its total funding to $20 million so far. Cobo Wallet allows users to store both proof-of-stake and proof-of-work coins. One incentive for people to pick the app over its competitors is the ability to pool proof-of-stake assets with other users so they can increase their chances of mining and validating new blocks on the blockchain. Since launching earlier this year, Cobo says its digital wallet has gained more than 500,000 users. The startup was founded last year by CEO Shixing Mao, who is known as Discus Fish in the crypto community, and CTO Changhao Jiang, a former platform engineer at Facebook and Google who co-founded Bihang, a cryptocurrency wallet acquired by OKCoin in 2013. Discus Fish, meanwhile, is known for launching F2Pool, China’s first mining pool. Cobo Vault, which will retail for $479, meets the MIL-STD-810G U.S. military standard for equipment, Cobo’s head of hardware Lixin Liu said in an email, adding that it was built with proprietary firmware created especially for the device, a bank-grade encryption chip and military-grade aluminum. Cobo Vault’s creation was prompted by an August 2017 incident in which F2Pool was hacked and more than 8,000 ETH was stolen from Discus Fish’s account. Fish also refunded customers’ lost ETH from his own assets. “As a result, Discus Fish was resolute on the fact that for crypto to gain mass market adoption, products had to be made to be hacker-resistant and truly safe,” said Liu.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.