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British AI chip start-up raises another $50 million in funding

Graphcore, a UK-based start-up focusing on microprocessors for appurtenance training and synthetic intelligence, has lifted $50 million from Sequoia Capital in a new turn of try financing. 

The association has lifted about $110m in a past 18 months alone as it looks to accelerate a growth of a synthetic comprehension processors. It’s final turn of appropriation – $30m – was usually announced in July. 

Based in Bristol, a association will scale prolongation of a chip it calls a “Intelligence Processing Unit”, that will form the basement for a company’s destiny AI developments.

Sequoia is one of a world’s many inclusive try collateral companies, carrying formerly supposing appropriation to – and profited immensely from – record giants such as Apple, Whatsapp and Google.

Its appropriation will assistance Graphcore move a IPU chip to potential customers by a start of subsequent year. The association is also looking to build a village of developers to support a roadmap of products.

Graphcore will also yield poignant resources to a US team, formed in Palo Alto, California. They’re operative on a company’s Poplar program platform.

In July, a association lifted income from AI experts that included Uber arch scientist Zoubin Ghahramani and DeepMind co-founder Demis Hassabis. The start-up’s chips are dictated to be used in driverless cars and other technologies powered by AI.

Samsung Catalyst Fund and Robert Bosch Venture Capital have formerly invested in a firm, too. Matt Miller, partner during Sequoia, will join a company’s house of directors. And Bill Coughran, who also works during Sequoia, will advise a organisation on technical matters.  

Nigel toon, arch executive of Graphcore, said: “Efficient AI estimate energy is fast apropos a many sought-after apparatus in a technological world.

“We trust a IPU record will turn a worldwide customary for appurtenance comprehension compute.

“The opening of Graphcore’s processor, compared to other accelerators, is going to be transformative, either we are a medical researcher, roboticist, online marketplace, amicable network or building unconstrained vehicles.

He added: “At Graphcore, we are focused on building a successful, fast association that can offer a needs of all of those communities, over a prolonged term.

“Sequoia has a low bargain of what it takes to scale and build a successful business and we are looking brazen to a prolonged partnership with them.”

Matt Miller, partner during Sequoia, said:  “Machine comprehension will means an blast of new applications and services that will renovate each industry.

“The singular inlet of this effort and scale of this event creates an opening where a profitable new chip association can be created.

“We trust Graphcore’s product architecture, group and early marketplace seductiveness make it a best positioned new entrant in this market. We demeanour brazen to assisting them build a vast and fast company.”


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