Lumai, a University of Oxford spinout, has been awarded a £1.1m grant from Innovate UK for its optical computing technology. The startup is developing “all-optical neural networks” that use light waves to perform computations for next-generation AI. Lumai plans to use the grant to produce optical computing processors and optical neural networks that do not require electronic processing. The grant comes after Lumai received £1.75m in funding from IP Group plc and Runa Capital in January 2022.
Oxford-based startup Lumai has been awarded a £1.1m grant from Innovate UK for its optical computing technology. The grant, which was first reported by Sifted, will help Lumai produce optical computing processors and optical neural networks that do not require electronic processing. Lumai plans to use the grant to develop “all-optical neural networks” for next-generation AI. The startup previously received £1.75m in funding from IP Group plc and Runa Capital in January 2022.
Lumai, a University of Oxford spinout, has received a £1.1m grant from Innovate UK for its optical computing technology. The grant will be used to produce optical computing processors and optical neural networks that do not require electronic processing. The startup’s technology is based on all-optical neural networks that use light waves to perform computations for next-generation AI. Lumai previously secured £1.75m in funding from IP Group plc and Runa Capital in January 2022.
Lumai’s optical computing technology uses light waves instead of electricity to perform computations. The startup is developing “all-optical neural networks” that it claims can be “1000x faster” than conventional transistor electronics. The grant from Innovate UK will help Lumai enhance the capabilities of its advanced optical systems. Innovate UK is the country’s innovation agency and a division of UKRI, a government public body that issues research and innovation funding.
The £1.1m grant from Innovate UK will enable Lumai to develop its vision of building all-optical neural networks for next-generation AI. The University of Oxford spinout previously received £1.75m in funding from IP Group plc and Runa Capital in January 2022. Lumai’s technology has the potential to revolutionize computing by using light waves to perform computations, which the startup claims can be “1000x faster” than conventional transistor electronics.
