Former Apple Engineers' Physical AI Startup Lyte Raises $165 Million at $1.6 Billion Valuation

The financing round was led by Maverick Silicon, with participation from Fidelity Management and Research Co. (which led Lyte's Series B), Atreides Management, Key1 Capital, and Ora Global (formerly Exor Ventures), along with additional existing and new investors.

Lyte was founded in 2021 by Alexander Shpunt, Arman Hajati, and Yuval Gerson — a trio of former Apple engineers who worked on the iPhone maker's advanced sensing and perception technologies. Shpunt previously co-founded PrimeSense, the startup behind the 3D-sensing technology that powered Microsoft Kinect before Apple acquired it in 2013. Their work helped bring 3D perception to the mainstream and later became a foundation for Apple's Face ID technology.

The company is building custom silicon, 4D sensing, RGB, motion awareness, and AI software to give robots precise real-time awareness of their surroundings — a capability Shpunt describes as “a new kind of perception.” Lyte's initial customers are primarily in the warehousing and manufacturing industries.

“Physical AI will create entirely new categories of robots, and every one of them will need to understand the world around it,” CEO Shpunt told Crunchbase News via email. “That requires a new kind of perception: precise, real-time understanding of geometry and motion that machines can trust enough to act on. We built Lyte to become the perception…”

The startup operated in stealth until earlier this year, when it emerged and announced it had raised $107 million in Series A and B funding.

Why This Matters

The massive round signals strong investor confidence in physical AI as a key growth market, especially for industrial robotics.
Lyte's founders bring deep expertise from PrimeSense and Apple's Face ID, bridging consumer 3D sensing with industrial applications.
The influx of institutional capital (Fidelity, Atreides) suggests robotics perception is seen as a critical enabling technology for automation at scale.

Background

Lyte operates in the physical AI space, where robots require precise perception to navigate and manipulate objects in the real world. The company's approach combines custom silicon design with 4D sensing and AI software, targeting the growing demand for automation in warehousing, logistics, and manufacturing. The founders' track record at Apple and PrimeSense — where 3D sensing moved from gaming peripherals to mass-market smartphones — provides a strong foundation for their current work.

Key Perspectives

Lyte: The company argues that a “new kind of perception” is necessary for robots to operate safely and autonomously, and positions itself as the leader in providing that capability. Investors: Participating firms like Maverick Silicon and Fidelity are betting that Lyte's technology will become the standard for industrial robot perception, similar to how Apple's Face ID standardised mobile 3D sensing. Critics/Skeptics: The physical AI space is increasingly competitive, with well-funded rivals and large tech companies developing similar in-house solutions. Lyte will need to prove its technology can scale beyond early warehouse and manufacturing customers.

What to Watch

How quickly Lyte expands into other verticals such as autonomous vehicles or consumer robotics.
Whether the company pursues an IPO or additional private funding rounds given its rapid ascent to unicorn status.
Competitive moves from major chipmakers or cloud providers entering the perception stack.

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