LightSolver has secured €12.5M from the European Innovation Council (EIC) Accelerator Program to advance its pioneering all-optical processor. The funding includes an initial €2.5 million grant from the EIC Fund and a future equity investment of €10 million, placing LightSolver among the top 68 companies selected from 969 applicants. This investment will accelerate the commercialization of their laser-based computing platform, which promises significant energy efficiency and reduced Total Cost of Computing (TCoC).
The company’s Laser Processing Unit™ (LPU) uses the natural properties of light to perform complex mathematical operations swiftly and efficiently, making it suitable for compute-intensive applications like computer-assisted engineering and bioscience computations. LightSolver’s technology aims to outpace and outperform traditional GPUs and quantum computers, offering scalability and low power requirements without the need for vacuum or ultracold environments.
CEO Dr. Ruti Ben-Shlomi highlighted the growing global energy consumption of computing and emphasized the need for sustainable alternatives. The LPU’s ability to handle large computations faster than GPUs and its minimal environmental demands position it as a revolutionary solution for high-performance computing (HPC) sectors.
The EIC, an initiative by the European Commission, supports high-potential startups in developing breakthrough innovations across various sectors, including computing, energy, and telecommunications. For more details, you can access the full press release here.
August 7, 2024
