BlockBeats News, August 7th, LightNet startup Lumilens announced the completion of over $700 million Series C funding, with a valuation of $55.1 billion. This round was co-led by Atreides Management, Bain Capital Ventures, Meritech, Seligman Ventures, and Spark Capital, with the company's total funding exceeding $900 million. The California-based company designs and manufactures optical and networking products to help data centers achieve higher-speed data transmission with lower power consumption.

Lumilens stated that it has already entered into a multi-billion-dollar agreement to supply a hyperscale cloud provider, but declined to disclose the specific name, only confirming it to be one of the four hyperscale cloud providers. CEO Ankur Singla noted: "The bottleneck of AI has shifted from how many GPUs you can buy to how many GPUs you can connect. Hyperscale cloud providers have told us they need two things: a significant increase in the optical capacity of existing networks and a path to directly connect thousands of GPUs into the same cluster."

Lumilens also revealed that it has recruited executives and engineers from companies such as Cisco, Juniper, Meta, Marvell, Lumentum, and Coherent to enhance expertise in photonics and large-scale networking. This round of funding will be used to expand engineering and manufacturing operations.