9/18/2023 0 Comments Kleiner perkins“LightForce was founded to provide fully customized, USA-made treatment options for orthodontists interested in offering modern braces to their patients,” said LightForce CEO and co-founder Dr. Orthodontic practices around the country will work with LightForce to combine the digital benefits seen with aligner therapy with the tooth-moving efficiency and quality outcomes seen with braces. The new funds will allow LightForce to offer training and education to orthodontists so that they are maximizing the technology for their patients while scaling operations and go-to-market efforts. The investment follows on the heels of LightForce posting over a 500% revenue growth rate during the past year in which the company developed two new products and grew their team year over year by 300%. Previous LightForce investors also participated in this round, including Matrix Partners, Tyche Partners, and AM Ventures. footprint with a $40 billion investment in its chip plant in Arizona, which will start production in 2024.BURLINGTON, Mass.-( BUSINESS WIRE)- LightForce Orthodontics, makers of the world’s only fully customizable 3D printed braces system, today announced that the company raised a $50 million Series C round led by Kleiner Perkins. TSMC, based in Hsinchu, Taiwan, is expanding its U.S. venture capital firms raised $11.7 billion across 99 funds in the first quarter, plummeting from $73.8 billion raised by 199 funds a year ago, according to PitchBook data. Mamoon Hamid and Ilya Fushman, two relatively recent additions to the firm's general partners ranks, have taken the helm and led investments in startups including Figma and Rippling.įirst-time fund managers are facing a challenging time raising funds as the Federal Reserve continues raising interest rates to tame inflation, and investors recalculate their exposure to venture capital. Other notable Kleiner Perkins alums who have started their own funds include Vinod Khosla, founder of Khosla Ventures, and Mary Meeker, who launched BOND Capital.Ī storied Silicon Valley name, Kleiner Perkins has been going through a generational transition since its longtime leader John Doerr moved into the chairman role in 2016. He will remain on the boards of companies he invested in at Kleiner Perkins, including orthodontic brackets maker LightForce. Hsieh, with two PhDs from the California Institute of Technology, has worked at Kleiner Perkins for 17 years, leading investments in Chinese drone maker DJI and 3D printing company Desktop Metal. Kleiner Perkins's Haomiao Huang is also leaving the firm to join Hsieh in the new fund, which will focus on early stage hard-tech startups in the United States, including in artificial intelligence and robotics with real-world applications, the sources added. TSMC did not respond to a request for comment. Hsieh is in advanced talks to raise $200 million from limited partners including Kleiner Perkins and TSMC for the new fund called Matter Venture Partner.Ī Kleiner Perkins spokesperson confirmed Hsieh's departure and the firm's participation in the fund. Longtime Kleiner Perkins partner Wen Hsieh is leaving the Silicon Valley venture capital establishment to start a fund with backing from the firm and Taiwanese chipmaker TSMC, sources told Reuters.
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