AI chip startup Graphcore closes $200M Series D, adds BMW and Microsoft as strategic investors

Dec 18, 2018 · techcrunch.com

Graphcore server chassis

UK AI chip startup Graphcore has announced a $200 million Series D round today that is jointly led by an existing investor, European VC Atomico, along with new investor Sofina, an investment holding firm.

Graphcore says the Series D values the company at $1.7M. We’ve confirmed the valuation is $1.5M before including the new capital raised. We’re also told that all the new money is inbound, with no cash-outs at this growth stage.

The 2016-founded, Bristol-based startup, which is building dedicated processing hardware for machine learning applications, bagged $50M in Series C financing a year ago, led by Sequoia Capital. That came hard on the heels of a $30M Series B led by Atomico, in July 2017.

It also raised a $32M Series A in October 2016. So Graphcore’s total funding raised to date is circa $312M.

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