Physical AI Firm Lyte Secures $165 Million in Series C Funding at $1.6 Billion Valuation

Lyte, a physical AI company, raised $165 million in a Series C round led by Maverick Silicon, bringing its post-money valuation to $1.6 billion. Participants included Fidelity Management & Research, Atreides Management, Key1 Capital, and Ora Global. Founded in 2021 by former Apple and PrimeSense engineers, the company provides perception technology stacks for robotics. The new capital will support the production of its perception chips and LyteVision platform, as well as the commercial deployment of its AI-driven robotics solutions.