On March 22, the Palo Alto, California-based public cloud provider for AI/ML workloads Foundry announced that it had raised a total of $80 million in seed and Series A funding. The round was co-led by Sequoia Capital and Lightspeed Venture Partners, with participation from Redpoint, Microsoft Ventures (M12), Conviction, NEA, and several angel investors.
The company plans to use the raised funds to expand its business, improve its product offerings, and establish more strategic partnerships.
Founded in 2022 and led by CEO Jared Quincy Davis, Foundry is a public cloud platform designed to meet the needs of AI/ML workloads. Foundry addresses the core economic and technical challenges in the fields of AI and deep learning by providing scalable GPU instances with high cost-performance. Early adopters include large enterprises such as KKR and LG, academic institutions such as Stanford University and MIT, and AI startups through investment partnerships with Lightspeed and Pear VC.
(Source:BusinessWire）