Rain AI, a San Francisco, California-based AI chip startup, raised $8.1m in Sequence A Extension spherical.
Epic Enterprise Companions made the funding.
Led by CEO William Passo, Rain AI creates energy-efficient AI {hardware} utilizing in-memory compute know-how, enabling superior AI fashions to run domestically on numerous gadgets. The corporate is addressing this core drawback by way of its in-memory compute proprietary know-how that may carry the AI applied sciences of tomorrow, from customized robotics to placing fashions the scale of ChatGPT in your telephone.
The corporate is now in talks with main hyperscalers and semiconductor firms to license its IP, with plans to launch its first chip prepared for patrons in 2025. The use-cases will span throughout a number of industries, together with drones, VR goggles, smartphones, robotics, wearables, and extra.
Based in 2017, Rain AI shortly gained recognition after being accepted into Y-Combinator in 2018. The corporate secured a $5m seed spherical led by Sam Altman, co-founder of OpenAI, and subsequently relocated to Silicon Valley to additional its analysis and growth efforts. In 2022, Rain AI raised a $25m Sequence A spherical. The corporate has now raised over $40m from notable buyers together with Sam Altman, co-founder/CEO of OpenAI; Jeff Rothschild, a founding engineer at Fb; Daniel Gross, co-founder of AI startup Cue (acquired by Apple); Oliver Cameron, Founding father of autonomous automobile startup Voyage (Acquired by Cruise); Jaan Tallinn, founding engineer at Skype; and Scott Grey, an AI {hardware} skilled and early member of OpenAI’s technical crew.
Rain AI has additionally assembled an advisory board which incorporates Dr. Jackson Hu, the previous CEO & Chairman of UMC, and Dr. Arijit Raychowdhury, an skilled of in-memory compute and Chair of the Electrical and Pc Engineering Division at Georgia Tech college.
FinSMEs
27/03/2024
