Graphcore's Raise Reaches Over $710 Million

Graphcore raised $222 million in Series E Funding Round to escalate AI projects.

Recently, Graphcore shared that it has raised $222million in Series E Funding Round to escalate AI projects.

Graphcore makes the Intelligence Processing Unit (IPU) which is a new type of microprocessor, developed to support heavy AI workloads.

Graphcore said that the investment will help support the company’s continued global expansion and future IPU silicon, systems and software development. This funding is led by Ontario Teachers’ Pensions Plan Board and adds funds managed by Fidelity International and Schroders as new investors. 

Source: Graphcore

Series E Funding Round brings the total funds raised by Graphcore to more than $710 million.

This year Graphcore, launched Mk2 IPU processor, the GC200 and its datacentre compute systems, the IPU-M2000 and IPU-POD64 for scale-out. "We have created a technology that dramatically outperforms legacy processors such as GPUs, a powerful set of software tools that are tailored to the needs of AI developers" said Graphcore.