Intel Capital, semiconductor and data technology provider Intel’s corporate venturing unit, led a $150m series B round yesterday for SambaNova Systems, the US-based developer of an artificial intelligence (AI) application platform.
GV, a corporate venture capital subsidiary of internet and technology group Alphabet, also participated in the round, as did VC firms Walden International and Redline Capital and growth equity firm Atlantic Bridge Ventures.
Founded in late 2017, SambaNova is working on a software platform capable of running cutting-edge AI technology sourced from advanced research being conducted across the world.
One of SambaNova’s co-founders, Kunle Olukotun, is a cadence design professor of electrical engineering and computer science at Stanford University while another, Christopher Ré, is an associate professor in Stanford’s department of computer science.
The company emerged from stealth in March 2018 having secured $56m in a series A round co-led by GV and Walden International, and backed by Redline Capital and Atlantic Bridge Ventures.
The round was one of 14 investments disclosed by Intel Capital yesterday. Intel Capital president Wendell Brooks said: “Artificial intelligence technology is rapidly developing, and Intel sees the potential to address many of the world’s biggest challenges as AI matures.
“The SambaNova team has the enterprise expertise and proven ability to bring systems to market. Our continued investments in AI leaders reflect our confidence in the technology’s ability to usher in a new era of computing.”
