Light Closes $25 Million Series B Financing, Led by Formation 8 Hardware Fund
by Dave Grannan, co-founder & CEO
“It’s kind of fun to do the impossible,” Walt Disney once said.
At Light, we are bringing incredibly high quality photography to small, mobile devices.
At the dawn of Light, some called our challenge impossible. They told us that one simply could not increase the image quality of a photograph and decrease the optical size of the camera.
But this challenge wouldn’t be fun if some didn’t deem it impossible.
The Light camera prototypes are now up and running. We are convinced now, more than ever, that we can relieve photographers of the age-old trade-off between quality and convenience.
They say, “hardware is hard.” It is true. We are certainly not done climbing this mountain. There have been plenty of bumps along the way - stories we’re looking forward to telling soon.
But we are having an enormous amount of fun “doing the impossible” here.
We’ve learned the importance of pausing and celebrating the good days, with humility.
Thus, we are thrilled to share that Light has raised a $25M Series B round of funding. This raise represents a major vote of confidence on the part of all of our existing investors, who participated in this round. We’re also ecstatic to welcome new investors Formation 8, which led the round, and StepStone to the Light family - a growing family that has seen the promise of the Light breakthrough.
Working with Formation 8’s Hardware Fund is a great opportunity for Light. Their commitment to hardware development and valuable expertise brings a whole new set of resources to the table as we near the all-important phase of bringing product to market.
Of course, once you tell people you’ve just raised money, the first thing they usually ask is, “what will you do with it?”
Building hardware is capital intensive, of course.
The reality is that a lot of this funding will be put to use growing our team. We’ve doubled the size of our team in the last three months and will likely double it again before the end of the year. To that end, we’re actively seeking excellent people. You can find our current openings here.
Beyond the specific descriptions listed there, it’s important to note a bit about our culture. We’ve been ruthless on two aspects in our hiring so far. The first is on intelligence, but this isn’t unique to Light. The second is on humility. Lots of companies will say they have a “no jerk” policy. At Light, it is a religion. We will continue to be relentless about finding wickedly smart, humble people and bringing them into the Light family.
Startups are hard. Hardware is hard. We have a group of the nicest, most talented people on Earth climbing a really great mountain together. If you’re intrigued by the challenge, we hope you’ll consider joining us.
For now, we’re going to put our heads back down and focus on the task at hand - creating a totally reimagined photography experience and bringing a little more Light into the world later this year.
Read more about Light and this news:
Forbes: Light Raises $25 Million To Put DSLR-Quality Camera In Your Next Smartphone
VentureBeat: Formation 8 and Foxconn bet $25M on this startup’s high-quality smartphone camera
Bokeh by DigitalRev: Photography Startup 'Light' Raises Additional $25 Million USD, After Securing $9.7 Million Last Year
Silicon Valley Business Journal: Photography startup Light raises $25 million in Series B funding