Lumai secures over $10M investment for optical processing tech

UK AI optical processing startup Lumai has secured more than $10 million in investment. 

Spun out of the University of Oxford, Lumai is tackling the limitations of AI compute by using optical processing to accelerate LLM and other transformer-based AI. 

Lumai has overcome the scalability challenges of optical computing. 

Its technology processes AI’s core arithmetic operations within optical beams traveling through 3D space, bypassing the limits of silicon GPUs and integrated photonics. Using low-cost optical components, the PCIe form factor enables cost-effective, high-performance AI inference, positioning Lumai as a key enabler of AI’s future.

Lumai’s unique design will deliver 50 times the performance of silicon-only accelerators while using just 10 per cent of the power required for AI in data centers, lowering both capital costs and total cost of ownership.

Tim Weil, CEO and co-founder at Lumai, commented:

“The future of AI demands radical breakthroughs in computing. The cost of current LLMs is unsustainable, and next-generation AI won’t happen without a major shift.

Lumai’s innovative optical computing design overcomes the scalability challenges that have held others back and dramatically reduces power consumption, which will drive down the cost of AI.”

Constructor Capital led the round, which included IP Group, alongside new investors PhotonVentures, Journey Ventures, LIFTT, Qubits Ventures, State Farm Ventures, and TIS Inc. 

“Life and intelligence are a large carbon-and electron-based neural model trained over 2 billion years,” noted Dr Serg Bell, Founder and Chairman of Constructor Capital. 

“Fossil fuels are a byproduct of this evolution, and they may not generate enough energy to create a better model if we continue using electron-based computation. We need more efficient, faster energy sources for the next generation of humanity’s neocortex: Artificial General Intelligence. 

Photons are the only known choice. Lumai’s technology is a significant step forward in improving matrix multiplication, similar to the advancements quantum computers offer for other computational scenarios.”

Dr. Lee Thornton, partner – deeptech at IP Group, added, 

“Having solved the challenges of optical compute to provide a low-cost, scalable solution, Lumai’s technology has the potential to transform the future of AI. We are proud to continue supporting Lumai as it embarks on the next phase of its journey.”

Lumai’s head of research and co-founder, Dr. Xianxin Guo, was also chosen to join the Royal Academy of Engineering’s prestigious Shott Accelerator 2024 program, while co-founder Dr. James Spall was selected to join the Photonics 100 list for 2025.

Lumai will use this investment to support its next stage of growth – advancing product development, doubling its headcount, and expanding its US presence.