2 weeks ago
Velaura AI Valued Above $1 Billion After $110 Million Funding
Velaura AI is a company that designs computer chips and software for artificial intelligence.
It raised $110 million from investors.
The investment made the company worth more than $1 billion.
Its technology is designed to help AI data centers use less electricity and cost less to operate.
The company also works on technology for robots and self-driving systems.
Velaura AI plans to use the money to build its products faster and hire more workers.
It recently announced a platform called Titan Core for designing more efficient chips.
Customers pay an upfront fee and may also pay royalties based on the power they save.
Velaura AI raised $110 million in a Series A round valuing the chip-designing startup at more than $1 billion.
Seligman Ventures led the funding, joined by Capricorn Investment Group and existing investors.
The company develops low-power chips and software for AI data centers, robotics and autonomous systems.
Velaura AI will use the funds to accelerate product development and hire engineering and customer-facing employees.
Its Titan Core platform targets improved efficiency and power savings, while its business model combines upfront fees with royalties tied to customer power savings.
- Who
- Velaura AI, led by co-founder and CEO Rajiv Khemani, raised the funding from several investors.
- What
- The chip-designing startup raised $110 million in a Series A funding round at a valuation above $1 billion.
- Where
- When
- The announcement was made Aug. 18, identified in the article as a Tuesday.
- Why
- The funds will support faster development and deployment of AI products and the hiring of engineers and customer-facing staff.
Key facts
- Funding
- $110 million Series A round
- Valuation
- More than $1 billion
- Lead investor
- Seligman Ventures
- New investor
- Capricorn Investment Group
- Existing investors
- Samsung Catalyst Fund, StepStone Group and Maverick Silicon
- Core technology
- Low-power chips, software and the Titan Core chip-design platform
- Business model
- Upfront technology fees plus royalties tied to customers' power savings
Quotes
Rajiv Khemani
Co‑founder and CEO of Velaura AI
“"The next era of AI will be defined not only by better models, but also by fundamentally better compute economics."”
livemint.com
Sources
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