Graphcore, a Bristol, UK-based AI chipmaker, raised $200m in Series D funding.
The round, which brought total capital raised to date to over $300M and valued the company at $1.7 billion, was led by Atomico, and Sofina, with participation from Merian Global Investors, Merian Chrysalis Investment Company, BMW iVentures, Microsoft, Amadeus Capital Partners, Robert Bosch Venture Capital, C4 Ventures, Dell Technologies Capital, Draper Esprit, Foundation Capital, Pitango and Sequoia Capital.
The company intends to use the funds to execute on its product roadmap, accelerate scaling and expand its global presence.
Led by Nigel Toon, CEO and co-founder, Graphcore has built a completely new kind of processor and software for AI and machine intelligence. It has been shipping first products to early access customers and generated first revenues this year, just two years after the company was founded.
The company’s IPU processor is designed specifically for machine intelligence training and inference.
Graphcore also has offices in London UK, Oslo Norway, Palo Alto USA and Beijing China.