Graphcore, which traces its origins back to University of Bristol, has added $150m to a round that already included Ahren Innovation Capital.
UK-based machine intelligence technology developer Graphcore raised $150m today to lift a series D round already backed by Ahren Innovation Capital, a patient capital fund backed by University of Cambridge researchers, to $350m.
The capital was supplied by investment management firms Baillie Gifford, M&G Investments and Merian Chrysalis, private equity firm Mayfair Equity Partners and unnamed existing backers, increasing the company’s valuation from $1.7bn to $1.95bn in the process.
Founded in 2016, Graphcore has developed a processor called the intelligence processing unit which is specifically designed for artificial intelligence. It has also built a software platform, Poplar, to facilitate machine learning applications.
The company was spun out of Xmos, itself a semiconductor technology spinout of University of Bristol, in 2016.
Graphcore received the first initial $200m in 2018, from investors including BMW i Ventures, Robert Bosch Venture Capital (RBVC) and Dell Technologies Capital, representing carmaker BMW,…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
