Amazon backs programmable optics startup Lumotive
Lumotive expanded its February Series B funding round to $59 million by including Amazon's Industrial Innovation Fund and ITHCA Group as new investors.
MAIN POINTS
- Lumotive reopened its Series B round initially closed in February.
- The funding round now totals $59 million.
- Amazon's Industrial Innovation Fund joined as a new investor.
- ITHCA Group also participated in the expanded round.
TAKEAWAYS
- The inclusion of Amazon's fund highlights strategic interest in Lumotive's technology.
- Reopening the funding round indicates strong investor confidence.
- Lumotive's increased capital will likely accelerate its growth and innovation.
- The participation of notable investors can enhance Lumotive's market position.