Other Deals
NRIs co-founded chip designer Velaura AI raises $110-M at Unicorn valuation
Santa Clara, California (US)-based Velaura AI , co-founded by Rajiv Khemani, Manu Gulati, Sanjay Gupta and YJ Kim, has raised USD 110 million in a Series A funding round at a valuation of more than USD 1 Billion. The round was led by Seligman Ventures and included participation from Capricorn Investment Group, as well as existing investors Samsung Catalyst Fund, StepStone Group, and Maverick Silicon.Velaura AI develops low-power chips and software technologies designed for data centers and physical AI applications, such as robotics and autonomous systems. The company plans to use the new funds to accelerate the development and deployment of its AI products and to increase its headcount by hiring additional engineers and customer-facing staff.The firm’s proprietary chip design platform Titan Core targets efficiency and power savings in data center workloads. Velaura is currently engaged with three of the four largest cloud computing providers.
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