Lumai, an Oxford, UK-based AI accelerator startup utilizing optics to deal with world computational challenges, raised over $10M in funding.
The spherical was led by Constructor Capital, with participation from current investor IP Group, alongside new traders PhotonVentures, Journey Ventures, LIFTT, Qubits Ventures, State Farm Ventures, and TIS Inc.
The corporate intends to make use of the funds to advance product growth, doubling its headcount, and increasing its U.S. presence.
A spin out of the College of Oxford and led by CEO Tim Weil, Lumai leverages AI know-how to develop a scalable computing answer to fulfill the demand for AI efficiency whereas minimizing power consumption. The corporate’s accelerator will minimize AI inference prices to one-tenth of in the present day’s options. Lumai’s design will ship 50 instances the efficiency of silicon-only accelerators whereas utilizing simply 10% of the facility required for AI in information facilities, reducing each capital prices and complete value of possession.
FinSMEs
02/04/2025
