Artificial intelligence networking company Upscale AI announced Monday that it has closed a $190 million extension to its early funding round, pushing its total valuation to $2 billion.
The fresh capital brings Upscale AI’s cumulative funding to $500 million. Premji Invest, the investment arm of Indian billionaire Azim Premji, took the lead role in the funding extension.
Several new investors came aboard for this round, including technology giant Nvidia, Salesforce Ventures, Seligman Ventures, and Temasek, a state-owned investment firm based in Singapore.
A number of existing backers also took part, among them Maverick Silicon, Mayfield, Prosperity7 Ventures, StepStone Group, and Tiger Global.
Upscale AI specializes in developing the hardware, software, and systems that link AI chips, memory, and storage together through a single high-speed network. The technology is designed to help large AI models operate and train more effectively while cutting down on processing delays.
The company stated it plans to put the new funding toward growing its operations and accelerating the rollout of its AI-native networking technology.
This latest round follows a $200 million Series A raise completed in January, which was led by Tiger Global, Premji Invest, and Xora Innovation.
