BlockBeats news: On August 19, AI chip design company Velaura AI announced the completion of a $110 million Series A funding round, with the company’s valuation exceeding $1 billion. The round was led by Seligman Ventures, with new investor Capricorn Investment Group participating, and existing shareholders Samsung Catalyst Fund, StepStone Group, and Maverick Silicon also joining.
Velaura AI specializes in developing low-power chip and software technologies, primarily serving data centers and physical AI domains, including robotics and autonomous driving systems. The company stated that the funding will be used to accelerate the development and deployment of AI products and to expand its engineering and customer teams. Earlier this year, the company launched its proprietary chip design platform, Titan Core, aimed at improving energy efficiency and power performance for data center workloads.
It is reported that Velaura has engaged in potential client partnerships with three of the world’s four largest cloud service providers (specific names undisclosed), with its technology deployed on over 30 million chips. The company employs a business model combining upfront licensing fees with revenue sharing based on customers’ energy savings, similar to Arm’s early chip licensing approach.