Blaze, an artificial intelligence (AI) computing company, has secured $106 million in funding.
Blaze said in a press release on Monday (April 29) that the capital injection will further the company’s efforts to advance AI and machine learning (ML) technology in a variety of areas.
“This investment lends further credence to our hypothesis that edge AI is revolutionizing every industry, and we are strengthening our roadmap to deliver on that promise.” said Blaize CEO Dinakar Munagala in a release.
With the new capital, Blaze aims to expand its business footprint, strengthen its product offering and accelerate the adoption of AI solutions to meet growing demand in various markets, according to the release.
Blaize’s technology is focused on delivering AI computing solutions that are not only high-performance, but also energy-efficient, the release said. This combination is extremely important in today’s digital environment. There, demand for computing power continues to rise and the need for sustainable solutions is greater than ever.
The company’s strategic direction aims to revolutionize industries such as automotive, mobility, retail, security, industrial automation and healthcare, according to the release. By leveraging its advanced AI platform, Blaize aims to empower these areas with cutting-edge technology that improves operational efficiency, drives innovation, and creates new opportunities for growth and development. I am.
According to a release, Blaize’s latest funding was raised from existing investors including Bess Ventures, Franklin Templeton, Denso, Mercedes-Benz, and Temasek, as well as new investors Rizvi Traverse, Ava Investors, and BurTech.
“Our current and next-generation products deliver value across the full range of AI applications, including computer vision, transformers, and multimodal generative AI,” Munagala said in the release.
“Our unique, fully programmable approach allows us to prepare for the unknown,” Munagara added. “This is ideal in the rapidly changing AI application environment, allowing customers to reduce risk, reduce costs, and use one uniform, complete hardware and software solution from the edge to the data center. It can be expanded.”
In another recent move in the space, it was reported on Friday (April 26) that Elon Musk’s AI startup xAI is close to raising $6 billion from investors.
On Tuesday (April 23), it was reported that AI startup Perplexity has raised $63 million as it aims to compete with Google’s search engine.
