Modular Secures $100M To Build Tools To Optimize And Create Ai Models
PUBLIC · MODDAug 24, 2023
Amount Raised
$100 Million
Round Type
Funding Round
Palo AltoSoftwareData And AnalyticsScience And EngineeringArtificial Intelligenceinformation technology & services
Investors
SV Angel
Description
Modular, a startup creating a platform for developing and optimizing AI systems, has raised $100 million in a funding round led by General Catalyst with participation from GV (Google Ventures), SV Angel, Greylock and Factory.
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Company Information
Company
Modular
Location
Palo Alto, California, United States
About
But these companies, the Modular co-founders posit, show a preference for their tooling and infrastructure at the expense of the AI’s progress. Founded by former Apple and Google engineers and execs, the company today closed a large ($30 million) seed round led by GV (formerly Google Ventures), with participation from Greylock, The Factory and SV Angel to realize its vision of a streamlined, platform-agnostic AI system development platform. “The reason those companies are successful at deploying AI is that they amass armies of developers, incredibly talented AI tinkerers, and use their vast compute and financial resources to further their own efforts and products — including their own clouds and AI hardware. Modular has other rivals, including Lightning AI and Gantry, both of which sell access to infrastructure for creating and maintaining AI models.
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Palo AltoSoftwareData And AnalyticsScience And EngineeringArtificial Intelligenceinformation technology & services