Samba Nova, a fast-growing Artificial Intelligence company, has raised startlingly highly $250 Million funding in the round led by BlackRock Inc with an intent to build its customer base. The massive financing shows that the investors are betting high on the artificial intelligence market.
SambaNova Raises Funds in Series C Funding
The Series C funding round of the SambaNova System fundraisers had investors from venture capital divisions of Alphabet Inc, Intel Corp along with WRVI, Redline Capital and Walden International.
SambaNova is based in Palo Alto, California and is investing in building an advanced platform, which can run the data-intensive application along with AI-powered software.
SambaNova CEO Talks about Funding
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Rodrigo Liang, the Co-founder and CEO of SambaNova Systems, said that “Raising $250M in this funding round with support from new and existing investors puts us in a unique category of capitalization,”. He added that “This enables us to extend our market leadership in enterprise computing further.”
SambaNova Developing NextGen AI Platforms
SambaNova Systems announced in April last year that it has raised 150 Million dollars in the Series B funding round which was led by Intel Capital. The company offers a wide range of Software and Hardware solutions that includes high-end computer-intensive applications that can run from the datacenter.
The company offers Platforms to run AI and Data-Intensive Applications
The company’s intensive and reconfigurable architecture allows the software and applications to optimize hardware configurations to deliver highly efficient results. The company works on the development of the latest platforms which can run Artificial intelligence application and other high-end technologies which are future-forward.
Funding Propels Company’s AI Initiative
The company is creating the most advanced systems and thus to resource out its research and development in the highly intensive fields, large funds are needed. The round of funding led by Blackrock can propel the company’s participation in the AI innovation of the next generation.
Kunle Olukotun, the Cofounder, talks about SambaNova Systems
As per Kunle Olukotun, the co-founder of SambaNova,
“SambaNova’s innovations in machine learning algorithms and software-defined hardware will dramatically improve the performance and capability of intelligent applications. The flexibility of the SambaNova technology will enable us to build a unified platform providing tremendous benefits for business intelligence, machine learning, and data analytics.”