Physical AI company Lyte completes $165 million Series C funding, valued at $1.6 billion

According to Bloomberg, physical AI company Lyte has completed a $165 million Series C funding round, led by Maverick Silicon with participation from Fidelity Management&Research, Atreides Management, Key1 Capital, and Ora Global. The post investment valuation is $1.6 billion. Lyte will use this round of funding for the production of perception chips and LyteVision platform, and promote the commercial deployment of AI perception capabilities and robots.