Aeluma, Inc. develops novel optoelectronic devices for sensing and communications applications. The company has pioneered a technique to manufacture devices using high performance compound semiconductor materials on large diameter substrates that are commonly used to produce mass market microelectronics. This approach enables cost effective manufacturing of high performance photodetectors and photodetector array circuits for imaging in mobile devices and for other technologies such as light detection and ranging LiDAR augmented reality virtual reality and facial recognition. By operating at longer wavelengths up to 1600 nanometers the devices can achieve eye safety beyond 1400 nanometers allowing increased detection range for LiDAR and usable imaging in both low light and bright sunlight conditions. Aeluma also notes that its technology may be adapted in the future to produce lasers transistors and solar cells.

Aeluma generates revenue primarily from government contracts and from the sale of wafers engineering samples and small volumes of chips to customers for research and development purposes. For the year ended June 30 2024 the company reported awards totaling $1,323,237 from the U. S. Navy the Office of the Secretary of Defense and the Department of Energy for services and delivery of materials under fixed price milestone based agreements. In addition Aeluma delivers wafers and chips to various customers enabling early stage evaluation and limited production runs which contribute to its product sales revenue.

Aeluma competes in the image sensor market against 2 main categories low cost silicon based CMOS sensors and higher performance indium gallium arsenide InGaAs sensors. Major suppliers of silicon CMOS image sensors include Sony Samsung Omnivision Onsemi ST Microelectronics Panasonic Canon SK Hynix and other firms. Leading providers of InGaAs sensors are Hamamatsu Sumitomo Teledyne FLIR Excelitas and comparable companies. Aeluma believes its technology can outperform silicon CMOS germanium and colloidal quantum dot alternatives while achieving a lower manufacturing cost than traditional InGaAs sensors. The advantage stems from the ability to use silicon wafers up to 12 inches in diameter whereas competing InGaAs devices are typically fabricated on indium phosphide wafers ranging from 2 to 4 inches. This wafer size difference allows Aeluma to produce more die per wafer and to build larger photodetector arrays than is possible with conventional InGaAs manufacturing. Additionally devices based on Aeluma's approach can detect light up to 1600 nanometers providing eye safe operation for LiDAR and enabling imaging in both dark and bright environments.

Aeluma's customer base consists of government agencies engaged in research and development contracts and a broad set of potential commercial partners across multiple industries. Specific government customers reported in the filing are the U. S. Navy the Office of the Secretary of Defense and the Department of Energy which have provided contracts for services and material delivery. Commercial prospects include mobile phone manufacturers companies that supply integrated solutions to handset makers LiDAR developers for automotive and industrial applications robotics firms augmented reality and virtual reality providers artificial intelligence companies telecommunications and data center operators and defense and aerospace contractors. The company currently pursues partnerships with system integrators tier 1 automotive suppliers module manufacturers component suppliers and semiconductor fabrication houses while also seeking direct sales relationships.