Lambda, a San Francisco, CA-based provider of deep learning GPU cloud services and computing hardware, raised $24.5M in financing.
This financing round consists of a $15M Series A equity round and a $9.5M debt facility provided by Silicon Valley Bank. Primary investors include 1517, Gradient Ventures, Bloomberg Beta, Razer, and Georges Harik.
The company will use the capital to expand its cloud and software engineering teams, pay for fixed assets related to its cloud business, and as working capital for its deep learning hardware business.
Led by Stephen Balaban, co-founder, and CEO, and Remy Guercio, Head of Cloud, Lambda provides deep learning computing infrastructure including GPU cloud services, servers, GPU clusters, GPU workstations, and GPU laptops to customers such as Apple, Intel, Microsoft, Amazon Research, Tencent, Kaiser Permanente, MIT, Stanford, Harvard, Caltech, and the Department of Defense.