Courtesy of d-Matrix
Artificial intelligence chip startup d-Matrix has raised $275m in Series C funding in a round co-led by BullhoundCapital, Triatomic Capital and Singapore’s Temasek.
The round also included new investors from the Qatar Investment Authority and Singapore’s EDBI, with return investments from M12, Mirae Asset, Industry Ventures and Nautilus Venture Partners, bringing the company’s valuation to $2bn.
The company, which has now raised $450m in total and is valued at $2bn, builds specialised computer chips and software to run large AI models faster and more efficiently than traditional GPUs. Its full-stack inference platform — combining custom hardware and software — is designed to handle the stage where AI models generate results.
Sid Sheth, CEO and co-founder of d-Matrix, said the company has been uniquely focused on inference from the start.
“When we started d-Matrix six years ago, training was seen as AI’s biggest challenge, but we knew that a new set of challenges would be coming soon,” said. “We predicted that when trained models needed to run continuously at scale, the infrastructure wouldn’t be ready.”
Since starting the business in 2019, they have been building a “fundamentally new architecture” to enable AI to operate everywhere, all the time.
“The explosion in AI inference demand shows us that efficiency and scalability can be key contributors to revenue capture and profitability for hyperscalers and AI factories,” said Michael Stewart, M12 managing partner. “d-Matrix is the first AI chip startup to address contemporary unit economics in LLM inference for models of a range of sizes that are growing the fastest, with differentiated elements in the in-memory product architecture that will sustain the TCO benefits with leading latency and throughput.”