Metalenz Raises $30 Million Series B Led by Neotribe Ventures to Address Fast Growing Demand for its Breakthrough Metasurface Optics
October 12, 2022, Boston, MA – Metalenz, the market leader for metasurface optics for high-performance 3D sensing solutions, today announced the closing of a $30M Series B, led by Neotribe Ventures. The funding will be used to meet the growing demand for the company’s existing 3D Sensor metasurface optics while simultaneously accelerating the market introduction of its revolutionary new polarization sensing solution, PolarEyes. The round also saw participation from Foothill Ventures, M Ventures, Intel Capital, Osage University Partners, TDK Ventures, 3M Ventures, Global Brains, SG Innovate, Baidu Ventures, Hegemon Capital, and Braemar Ventures.
“When we launched our first products as the key enabler for simpler, next generation 3D ToF products earlier this year, we proved that the performance of our metasurface optics is unparalleled in the 3D sensing market, and that our new technology can reach end-users at a massive scale,” said Metalenz co-founder and CEO Rob Devlin. “Since then, demand has dramatically increased, and the oversubscribed round is a testament to how our metasurface optics can completely transform the way people and machines interact with and understand the world around them. Going forward we are particularly excited to benefit from the deep knowledge and vast network of our lead investor in the Series B, Neotribe Ventures.”
“At Neotribe we are focused on investing in companies that are solving really hard technical problems that disrupt non-traditional industry sectors,” said Kittu Kolluri, Founder and Managing Director of Neotribe Ventures. “Metalenz represents the perfect blend of a disruptive deep tech solution being applied to a large and innovation-starved market, optics. We look forward to supporting Rob and his team as they scale the company and product roadmap to address this multi-billion-dollar opportunity.”
Founded in 2016 and the first to commercialize meta-optics, Metalenz is enabling the next generation of 3D sensing in consumer electronics, automotive and industrial robotics markets. Built on research from the Capasso Lab at Harvard University, with exclusive worldwide license to foundational IP relating to metasurfaces, Metalenz has 20+ patents on innovations that simplify and improve optical devices. Unlike traditional optics, the company’s metasurface technology provides complex, multifunctional optical performance in a single semiconductor layer, relocating large-scale production of optics to semiconductor foundries—printing lenses like computer chips. Metalenz launched out of stealth in 2021 with funding from leading investors including 3M Ventures, Applied Ventures LLC, Intel Capital, M Ventures, TDK Ventures, and Foothill Ventures. Now in market, Metalenz metasurface optics will be in millions of consumer devices this year.
To learn more about how Metalenz is revolutionizing optical sensing in consumer electronics and beyond, contact email@example.com.
About Neotribe Ventures
Neotribe Ventures focuses on strategic investments in early to growth-stage companies developing breakthrough technologies that stretch the imagination. Founded in 2017, the firm manages nearly $450 million in assets across three funds and has invested in a diverse set of companies including computational biology, enterprise security and infrastructure, robotics and AI, blockchain technologies, cleantech, and more. Just as tribes represent small, protective, and caring groups, Neotribe believes that startups with innovative and aspirational teams thrive if provided the security and backing to be unafraid in the pursuit of new ideas, excellence, and success.
To learn more about how Neotribe is partnering with entrepreneurs in the U.S., Europe, Israel, India, and Australia in their quest to solve complex and deeply impactful problems to create lasting change, visit www.neotribe.vc.
Marketing Manager, Metalenz