Key facts
- Upscale AI raised $190 million in an extension of its early-stage funding round.
- The company's valuation reached $2 billion following the funding extension.
- Premji Invest led the latest funding round.
- Nvidia and Salesforce Ventures were among the new investors.
- Upscale AI develops hardware, systems, and software for AI chip connectivity.
- The company has now raised a total of $500 million in funding.
AI networking infrastructure firm Upscale AI announced on Monday that it has secured a $190 million extension to its early-stage funding round, bringing its total valuation to $2 billion. The investment was led by Premji Invest, the investment arm of Indian billionaire Azim Premji.
New investors participating in the round include Nvidia, Salesforce Ventures, Seligman Ventures, and Singapore's state investor Temasek. Existing investors such as Maverick Silicon, Mayfield, Prosperity7 Ventures, StepStone Group, and Tiger Global also contributed to the funding.
Upscale AI specializes in creating hardware, systems, and software designed to connect AI chips, memory, and storage within a high-speed network. This technology aims to enhance the efficiency and reduce delays in training and running large AI models. The company stated that the newly acquired capital will be used to expand its business operations and accelerate the delivery of its AI-native networking technology.
This latest funding follows a $200 million Series A round raised in January, which was also led by Tiger Global, Premji Invest, and Xora Innovation.