Graphcore raises $50 million

Machine intelligence company Graphcore has raised a $50 million Series C funding round, as the machine intelligence company prepares to ship its first Intelligence Processing Unit (IPU) products to customers at the start of 2018.

The investment was led by Sequoia Capital. Existing investors Amadeus Capital Partners, Atomico, Robert Bosch Venture Capital, C4 Ventures, Dell Technologies Capital, Draper Esprit, Foundation Capital, Pitango Venture Capital and Samsung Catalyst Fund also participated in the round.

Graphcore has also attracted investments from Demis Hassabis, co-founder of DeepMind, Zoubin Ghahramani of Cambridge University and Chief Scientist at Uber, and Pieter Abbeel, Greg Brockman, Scott Grey and Ilya Sutskever, from OpenAI.

Matt Miller, partner at Sequoia, will join the Graphcore board of directors.

[Image courtesy: Graphcore]

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