GV, the corporate venturing unit formerly known as Google Ventures, has led a $30m series C round for US-based advanced camera developer Light.
The round also included venture capital firms Bessemer Venture Partners and CRV, as well as Paul E. Jacobs, the chairman of mobile semiconductor maker Qualcomm, Light co-founder and CEO Dave Grannan told VentureBeat.
Light launched its lead product, a multi-aperture computational camera called L16, in October 2015. It utilises 16 lenses to enable users to take professional-quality photographs without requiring expensive and cumbersome equipment.
The company revealed the series C funding in a blog post that also announced improvements to the L16, including the widening of its zoom range and the doubling of its internal memory capacity. Initial pre-orders for the camera have sold out and Light intends to begin shipping in early 2017.
The post stated: “We will put these funds to good use as we scale our global supply chain to meet overwhelming demand.”
Light has now raised about $65m since it was founded in 2013, securing $9.7m from Bessemer, CRV, Jacobs and angel investor Sanjay Jha in mid-2014 before adding $25m in a July 2015 series B round that also included Foxconn’s FIH Mobile subsidiary, StepStone Group and CrunchFund.
– Image courtesy of Light