Modular, a remote provider of AI development tools for enterprises, raised $100m in funding.
The round, which brought total funding raised to date to $130M, was led by General Catalyst with participation from existing investors Google Ventures, SV Angel, Greylock and Factory.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Chris Lattner, Modular provides an AI developer platform that enables customers and developers to ease their AI technology stacks, putting innovations into production faster and realizing more value from their investment in AI. Its infrastructure integrates into customers’ environments with minimal migration cost, natively supporting multiple clouds, hardware accelerators, and AI frameworks out of the box.
The company has built and delivered a unified AI engine that provides full compatibility with major AI frameworks – such as TensorFlow and PyTorch – and delivers performance and cost savings on today’s CPUs, with support for GPUs coming in the Fall. Modular also built Mojo, a programming language for all AI developers that they say is faster than Python. Mojo combines the usability of Python and the performance of C, bringing programmability back to AI and providing a common interface for the AI hardware landscape.
Looking ahead, the company is committed to releasing the Mojo standard library in open source and accepting contributions before the end of the year.
FinSMEs
25/08/2023