Graphcore, a Bristol, UK-based AI Chip maker, raised $222m in Series E funding.
The round, which brings total funds raised to date to more than $710m, was led by Ontario Teachers’ Pensions Plan Board and adds funds managed by Fidelity International and Schroders as new investors. Also participating in this round are existing Graphcore investors, including Baillie Gifford and Draper Esprit.
The company, which is now valued at $2.77 billion, post-money, intends to use the funds for continued global expansion and future IPU silicon, systems and software development.
Graphcore invented an Intelligence Processing Unit (IPU) to allow innovators to create next generation machine intelligence.
In 2020, the company launched its Mk2 IPU processor, the GC200 and datacentre compute systems, the IPU-M2000 and IPU-POD64 for scale-out.
Graphcore also introduced the Graphcore Partner Program, a global network which includes some of the world’s most respected distributors, resellers and OEMs, as well as Poplar v1.4, including full PyTorch support, ensuring that the most widely used frameworks are simple to implement on the IPU.