June 22 (Reuters) – AI networking infrastructure firm Upscale AI said on Monday it had raised a $190 million extension to its early-stage funding round, bringing its valuation to $2 billion.
Here are some details:
• The investment brings the company’s total funding to $500 million. Premji Invest, the investment unit of Indian billionaire Azim Premji, led the round.
• New investors, including Nvidia, Salesforce Ventures, Seligman Ventures and Singapore state investor Temasek, joined the round.
• Existing investors, including Maverick Silicon, Mayfield, Prosperity7 Ventures, StepStone Group and Tiger Global also participated in the funding round.
• Upscale AI builds hardware, systems and software that connect AI chips, memory and storage across one fast network, helping large AI models train and run more efficiently with fewer delays.
• The company said it will use the capital to expand its business and speed delivery of its advanced AI-native networking technology.
• Upscale AI had raised $200 million in January, in a Series A round led by Tiger Global, Premji Invest, and Xora Innovation.
(Reporting by Anhata Rooprai in Bengaluru; Editing by Tasim Zahid)
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