Blaize, an artificial intelligence (AI) computing company, has secured $106 million in funding.
The financial infusion is set to propel the company’s efforts in advancing AI and machine learning (ML) technologies across various sectors, Blaize said in a Monday (April 29) press release.
“This investment lends further credence to our thesis that edge AI is revolutionizing all industries, and we are supercharging our roadmap to deliver its promise,” Blaize CEO Dinakar Munagala said in the release.
With the new capital, Blaize aims to expand its footprint, enhance its product offerings and accelerate the deployment of its AI solutions to meet the growing demand in a variety of markets, according to the release.
Blaize’s technology focuses on delivering AI computing solutions that are not only high-performing but also energy-efficient, the release said. This combination is crucial in today’s digital landscape, where the demand for computing power is ever-increasing, and the need for sustainable solutions is more pressing than ever.
The company’s strategic direction is geared toward revolutionizing industries such as automotive, mobility, retail, security, industrial automation and healthcare, per the release. By leveraging its advanced AI platforms, Blaize aims to empower these sectors with cutting-edge technologies that enhance operational efficiencies, drive innovation and create new opportunities for growth and development.
Blaize’s latest funding was raised from existing investors, including Bess Ventures, Franklin Templeton, Denso, Mercedes-Benz and Temasek, and new investors Rizvi Traverse, Ava Investors and BurTech, according to the release.
“Our current and next-generation offerings will deliver value across all AI applications, including computer vision, transformers and multimodal generative AI,” Munagala said in the release.
“Our unique, fully programmable approach makes us ready for the unknown,” Munagala added. “This is ideal in the fast-changing AI applications landscape, de-risking and reducing cost for our customers, scaling from the edge to the data center, with one uniform and complete hardware and software solution.”
In another recent development in this space, it was reported Friday (April 26) that Elon Musk’s AI startup xAI is close to raising $6 billion from investors.
On Tuesday (April 23), it was reported that AI startup Perplexity raised $63 million as it aims to compete with Google’s search engine.
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