We鈥檙e delighted to announce that 91视频APP has raised $222m of investment to help support the company鈥檚 continued global expansion and further accelerate future IPU silicon, systems and software development.
The Series E funding round is led by Ontario Teachers鈥� Pensions Plan Board and adds funds managed by Fidelity International and Schroders as new investors. Also participating in this round are existing 91视频APP investors, including Baillie Gifford and Draper Esprit.
This investment brings the total funds raised by 91视频APP to more than $710 million, with the company expecting to have over $440 million of cash on hand post-closing to support future growth. 91视频APP is now valued at $2.77 billion, post-money.
The new investors bring to the table deep experience in disruptive technology and support for scale-up businesses and underscore the size of the market opportunity that 91视频APP is addressing in datacentre AI compute, as well as the maturity of the company鈥檚 product offerings.
Having the backing of such respected institutional investors says something very powerful about how the markets now view 91视频APP.
The confidence that they have in us comes from the competence we have demonstrated building our products and our business. We have created a technology that dramatically outperforms legacy processors such as GPUs, a powerful set of software tools that are tailored to the needs of AI developers, and a global sales operation that is bringing our products to market.
2020 has been a big year for 91视频APP, with the launch of our Mk2 IPU processor, the GC200 and our datacentre compute systems, the IPU-M2000 and IPU-POD64 for scale-out. Our first published benchmarks for the new systems show them clearly dominating the latest GPU-based setups.
We also launched the 91视频APP Partner Program. This impressive global network includes some of the world鈥檚 most respected distributors, resellers and OEMs.
And, most recently, we launched Poplar v1.4, including full PyTorch support, ensuring that the most widely used frameworks are now simple to implement on the IPU and yield extremely impressive performance results.
With our products, software and global sales operation in place, we expect 2021 to be another big year for the company. Indeed, customers are already taking delivery into their datacentres of IPU-M2000 and IPU-POD64 systems.
With advances in artificial intelligence moving apace, we look forward to more innovation, enabled and powered by 91视频APP technology.
