Lumai selected to join Intel Ignite’s London Cohort
Lumai, the UK company developing 3D optical computing, today announced that it has been selected as a member of Intel® Ignite’s 2023 London Cohort.
Spinning out of The University of Oxford in January 2022, Lumai is creating the next-generation of hardware for AI, uniquely developing 3D optical computing that can compute at faster speeds and at greater scales than ever before. As AI is driving innovation at a phenomenal pace – but electronics are hitting their physical limits – Lumai is developing an optical processor that can perform computations 1000x faster than traditional electronics, simultaneously consuming only 1/100th of the energy.
Launched in 2019, Intel Ignite has a presence in the US, Europe and – most recently – London, and together its community ecosystem of entrepreneurs has built world-changing companies. A panel of over 120 judges reviewed more than 200 entrants to determine the final ten to be included in the latest cohort.
Tim Weil, CEO at Lumai, commented: “The Lumai team is thrilled to be selected as part of Intel Ignite’s London Cohort. Our optical computing technology can combat the bottlenecks facing traditional electronics, and we’re thankful for the support the Intel Ignite team will provide in helping us deliver game-changing impact in the world of AI.”
Intel Ignite has a proven track record of helping deep tech companies to build tailored go-to-market strategies and provide access to a world-class ecosystem of innovators and leaders in the deep tech space.
“With these pioneering startups Intel Ignite is thrilled to be launching the first cohort in London, which is home to the third-largest market in the world of startups and the number one market outside of the US,” said Tzahi (Zack) Weisfeld, Intel Vice President and General Manager of Intel Ignite. “Since its inception in 2019, Intel Ignite has worked alongside early-stage deep tech companies to provide guidance, and together we are co-creating innovative technology that will change our future. Our participating companies collectively have secured an astounding $1.7 billion in funding, and we look forward to fostering more disruption and driving the cutting edge of technology forward.”
To learn more about Lumai, visit the website here.