Velaura raises $110mn to sell AI chips that cut the power bill, not the clock speed
A chip startup that promises to cut the power AI uses has raised $110mn and crossed a $1bn valuation. Velaura AI, based in Santa Clara, announced the Series A round on Tuesday. The company said in a statement that it builds ultra-low-power silicon and software for data centres and for what the industry calls physical AI.
Seligman Ventures led the round. New investors Capricorn Investment Group and Prosperity7 Ventures joined, the company said. So did existing backers including Mayfield, Maverick Silicon, MARA, Premji Invest, the Samsung Catalyst Fund and StepStone Group. Reuters reported the valuation at more than $1bn.
Velaura said it will use the money to speed up development of its chip products and to hire engineering and customer-facing staff.
The pitch is power, not speed
Velaura’s core argument is about electricity. AI now runs into a power wall before a compute one, the company argued. Demand for compute...
Copyright of this story solely belongs to thenextweb.com. To see the full text click HERE
