Tenstorrent Raises Over $200M in Funding; Valued at $1 Billion

▤ Summary

Tenstorrent, a Toronto, Canada-based a hardware startup developing next generation computers, raised over $200M in funding round at a $1 billion valuation. The round was led by Fidelity Management and Research Company with participation from Eclipse Ventures, Epic CG and Moore Capital. The company intends to use the funds to continue creating AI focused hardware for developers. Led by Ljubisa Bajic, CEO, and Jim Keller, CTO, Tenstorrent is a hardware startup developing next generation computers whose Grayskull processor will go to market in the second half of 2021. In addition, the company will be launching DevCloud which will allow developers to try running their models without first having to purchase hardware.

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