Software firm LightOn raises €11.9M through a listing process (IPO) in France anchored by Axon’s ISETEC Fund

LightOn, a European leader in generative AI, announces €62M IPO in Paris after raising $11.9M and funded largely by Axon’s ISETEC Fund, marking the fund’s first investment in France. This funding will enable LightOn to execute its ambitious product development roadmap, accelerate its international expansion, and solidify its position as the first pure European generative AI company to go public.

Founded in 2016 by Igor Carron and Laurent Daudet, LightOn has quickly become a pioneer in generative AI. Initially focused on developing optical processors for AI applications, the company pivoted in 2020 to focus exclusively on generative AI. Since then, LightOn has developed 12 Large Language Models (LLMs) capable of processing over 100 billion parameters, leveraging European supercomputers and cloud infrastructure. These achievements place LightOn among a select group of global players with such advanced capabilities.

This funding will support LightOn’s ambitious roadmap, including:

Expanding its engineering and sales teams.
Advancing AI technologies such as multimodal capabilities and fine-tuning specialized models.
Investing in R&D infrastructure, including computing power for developing cutting-edge solutions.

ISETEC’s investment in LightOn aligns with its strategy of backing founder-led companies with unique products in high-growth industries. “LightOn combines cutting-edge innovation, a clear strategic vision, and exceptional leadership. We are proud to be part of their growth journey and to contribute to strengthening the European technology ecosystem,” said Francisco Velázquez, managing partner at Axon.

This first investment in France reinforces ISETEC’s aspiration to not only support the creation of European technological leaders, but also strengthen the region’s capital markets, driving innovation and economic growth.