Lyte Raises $165 Million, Lifting Robotics Perception Startup to $1.6 Billion Valuation

Lyte, a Mountain View robotics and AI company founded by former Apple Face ID engineers, has closed about $165 million in new financing that more than triples its valuation to $1.6 billion. The round was led by Maverick Silicon, with participation from existing backers including Fidelity Management & Research, Atreides Management, Key1 Capital and Ora Global, according to coverage of a company statement. Combined with earlier capital, Lyte has raised $272 million since its 2021 founding.