Franklin Templeton & Other Investors led $71 million funding round for AI Computing Platform Blaize
AI computing innovator revolutionizing edge and automotive computing solutions, Blaize announced a $71 million Series D round led by Franklin Templeton, a new investor, and existing investor Temasek on Wednesday. This round was also attended by DENSO and other new and returning investors.
With this funding, the company intends to rapidly expand its Hyderabad, India operations over the next 12 - 18 months in order to accelerate the product roadmap and scale the business.
“Blaize has demonstrated the capability to enable value creation for organisations, tapping the power of AI for edge computing. We are excited to invest as Blaize leadership takes strides to realise their vision.
Automotive, and numerous edge AI markets, such as retail and metro, hold tremendous potential for Blaize to expand on their early market position as the adoption of AI at the edge accelerates, creating a new wave of industrial systems,” says, JP Scandalios, senior vice president and portfolio manager, Franklin Templeton.
Blaize successfully released and established a multi-year pipeline for the first generation Blaize AI edge computing hardware and software products in 2020, with customer opportunities in the United States, Europe, Japan, and Asia.
Dinakar Munagala, CEO, Blaize said, “We are pleased with the participation of new and existing premier investors in the Series D round. We are well-positioned to accelerate our next-generation products and sustain our lead in delivering integrated hardware and software offerings that enable true value creation for our customers.”
Founded in 2010, Blaize had previously received $87 million in equity funding from DENSO, Daimler, SPARX Group, Magna, Samsung Catalyst Fund, Temasek, GGV Capital, Wavemaker, and SGInnovate. Blaize is headquartered in El Dorado Hills, California, and has offices in Campbell, California, and Cary, North Carolina, as well as subsidiaries in Hyderabad, India, Manila, the Philippines, and Leeds and Kings Langley, England (UK), with 300+ employees worldwide.
The company develops and patents a number of remarkable new technologies that bring previously unheard-of Vision Processing to a wide range of consumer devices. Next-generation products require 10x-100x more performance and battery life, and Blaize is ready to meet those demands.
With this funding, the company intends to rapidly expand its Hyderabad, India operations over the next 12 - 18 months in order to accelerate the product roadmap and scale the business.
“Blaize has demonstrated the capability to enable value creation for organisations, tapping the power of AI for edge computing. We are excited to invest as Blaize leadership takes strides to realise their vision.
Automotive, and numerous edge AI markets, such as retail and metro, hold tremendous potential for Blaize to expand on their early market position as the adoption of AI at the edge accelerates, creating a new wave of industrial systems,” says, JP Scandalios, senior vice president and portfolio manager, Franklin Templeton.
Blaize successfully released and established a multi-year pipeline for the first generation Blaize AI edge computing hardware and software products in 2020, with customer opportunities in the United States, Europe, Japan, and Asia.
Dinakar Munagala, CEO, Blaize said, “We are pleased with the participation of new and existing premier investors in the Series D round. We are well-positioned to accelerate our next-generation products and sustain our lead in delivering integrated hardware and software offerings that enable true value creation for our customers.”
Founded in 2010, Blaize had previously received $87 million in equity funding from DENSO, Daimler, SPARX Group, Magna, Samsung Catalyst Fund, Temasek, GGV Capital, Wavemaker, and SGInnovate. Blaize is headquartered in El Dorado Hills, California, and has offices in Campbell, California, and Cary, North Carolina, as well as subsidiaries in Hyderabad, India, Manila, the Philippines, and Leeds and Kings Langley, England (UK), with 300+ employees worldwide.
The company develops and patents a number of remarkable new technologies that bring previously unheard-of Vision Processing to a wide range of consumer devices. Next-generation products require 10x-100x more performance and battery life, and Blaize is ready to meet those demands.
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