AI startup Modular raises $250 million to challenge Nvidia's dominance, led by U.S. Innovative Technology fund.
PUBLIC · MODDSep 24, 2025
Amount Raised
$250 Million
Round Type
Funding Round
Palo AltoSoftwareData And AnalyticsScience And EngineeringArtificial Intelligenceinformation technology & services
Investors
Thomas Tull’s US Innovative Technology FundGreylockGeneral CatalystGVDFJ GrowthU.S. Innovative Technology Fund
Description
AI startup Modular said on Wednesday it raised $250 million in a funding round, valuing it at $1.6 billion. The funding was led by U.S. Innovative Technology fund, with participation from DFJ Growth and existing investors including GV, General Catalyst, and Greylock. Modular's platform aims to allow developers to run AI applications across various computer chips without rewriting code
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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