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AI startup Blaize raises $106 million in funding

AI startup Blaize announced a $106 million funding round, which includes investments from existing investors like Mercedes-Benz and Temasek.

According to a statement by the company, existing investors such as Bess Ventures, Franklin Templeton, and Denso, along with new investors like Rizvi Traverse, Ava Investors, and BurTech LP, also participated in the fundraising. However, the company did not disclose details about its valuation.

“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.

The release stated that with the new funding, Blaize intends to broaden its presence, improve its product lineup, and expedite the implementation of its AI solutions to address the rising demand across various markets.

According to the release, the AI startup Blaize’s technology emphasizes providing AI computing solutions that are both high-performing and energy-efficient. This dual focus is vital in today’s digital era, characterized by a growing need for computing power and an increasing demand for sustainable solutions.

This fundraising effort showcases the ongoing excitement surrounding the AI sector, which managed to attract a significant portion of venture capital funds last year despite a generally subdued investment environment. The recent launch of ChatGPT by OpenAI has further sparked interest in AI, leading companies to invest millions of dollars to capitalize on this trend.

Based in El Dorado Hills, California, the startup provides computing solutions across various sectors, including automotive, mobility, smart retail, security, industrial, and metro markets. Blaize also mentioned that it had raised $224 million in previous funding rounds.

“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.”

Last December, Blaize announced its intention to go public through a SPAC (special purpose acquisition company) deal with BurTech Acquisition.

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