AI accelerator startup Lumai has secured over$10 million in funding to advance its optical computing technology.

The investment round was led by Constructor Capital, with support from IP Group and new investors including PhotonVentures, Journey Ventures, and State Farm Ventures. The funding will be used to expand Lumai's workforce, develop new products, and establish a stronger presence in the United States market.

Spun out of the University of Oxford, Lumai aims to tackle the growing energy demands of AI by replacing traditional silicon-based computing with optical processing.

Its technology processes AI's core arithmetic operations using beams of light in 3D space, bypassing the limitations of conventional GPUs.

By using low-cost optical components, Lumai claims its accelerators can cut AI inference costs to a tenth of current solutions while delivering 50 times the performance and consuming just 10% of the power.

The demand for AI computing power is increasing rapidly, with US data centres expected to triple their energy consumption by 2028.

Lumai's CEO, Tim Weil, believes optical computing is the key to unlocking the future of AI, enabling more sustainable and cost-effective advancements in large language models and next-generation AI.