Lyte announced a $165 million Series C on September 2 to expand production of its robot perception technology. Maverick Silicon led the financing at a $1.6 billion post-money valuation, and its managing partner Andrew Homan joined Lyte's board.
The Sunnyvale company develops custom chips, sensors and software that help robots determine their position and detect nearby movement. It says it has entered production and is shipping to robotics customers in inspection, logistics and manufacturing. The financing will support manufacturing, further development and additional deployments.
Lyte's founders include former Apple and PrimeSense engineers, with Alexander Shpunt serving as CEO. Total funding now stands at $272 million. Globes reports that the company's Israeli employees work in the United States; it does not identify an Israeli office.