Lightning AI, a NYC-based creator of the PyTorch Lightning framework, raised $50M in funding.
Backers included Cisco Investments, J.P. Morgan, K5 Global and NVIDIA, bringing total funding to $103M.
The company intends to use the funds to expand operations and its development efforts.
Led by William Falcon, Founder and CEO, Lightning AI is the company behind PyTorch Lightning, a widely adopted deep learning framework with over 160 million downloads. It simplifies and accelerates AI development by providing a unified platform for training, deploying, and scaling AI. Its flagship product, Lightning AI Studios, integrates tools for model fine-tuning, deployment, agent building, and more. Designed for both simplicity and extensibility, it enables enterprises and developers to build deployment-ready AI products in weeks not months, while reducing infrastructure complexity and costs.
Since launching 12 months ago, Lightning AI has gained 240,000 users across 2,000 organizations, with PyTorch Lightning surpassing 160 million downloads. Lightning’s multiplayer, cloud-based, persistent development environments make AI development – model finetuning, deploying, agent building, etc – as intuitive as using the iPhone.
FinSMEs
22/11/2024