Upscale AI valued at $2 billion after funding extension

NVIDIA Corporation
Salesforce.com, inc.

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- AI networking infrastructure firm Upscale AI said on Monday it had raised a $190 million extension to its early-stage funding round, bringing its valuation to $2 billion.

Here are some details:

  • The investment brings the company's total funding to $500 million. Premji Invest, the investment unit of Indian billionaire Azim Premji, led the round.

  • New investors, including Nvidia NVDA.O, Salesforce Ventures CRM.N, Seligman Ventures and Singapore state investor Temasek, joined the round.

  • Existing investors, including Maverick Silicon, Mayfield, Prosperity7 Ventures, StepStone Group and Tiger Global also participated in the funding round.

  • Upscale AI builds hardware, systems and software that connect AI chips, memory and storage across one fast network, helping large AI models train and run more efficiently with fewer delays.

  • The company said it will use the capital to expand its business and speed delivery of its advanced AI-native networking technology.

  • Upscale AI had raised $200 million in January, in a Series A round led by Tiger Global, Premji Invest, and Xora Innovation.