Friday, Sep 17 2021 | Time 16:08 Hrs(IST)
Business Economy

Blaize announces closing of $71M Series D round of funding, to expand operations in Hyderabad

Hyderabad, Jul 28 (UNI) Blaize, the AI computing innovator revolutionizing edge and automotive computing solutions, on Wednesday announced the closing of $71m Series D round of funding.
Franklin Templeton, a new investor, and Temasek, an existing investor, led the round, along with participation from DENSO and other new and existing investors, US-based Blaize, an Artificial Intelligence(AI) computing company said in a release here.
To accelerate the product road map and scale the business with this funding, the Company plans to rapidly expand their Hyderabad operations in the next 12-18 months.
“Blaize has demonstrated the capability to enable value creation for organizations tapping the power of AI for edge computing,” Mr JP Scandalios, Senior Vice President and Portfolio Manager, Franklin Templeton said.
“We are pleased with the participation of new and existing premier investors in the Series D round,” Blaize CEO Dinakar Munagala said that we are well positioned to accelerate our next generation products and sustain our lead in delivering integrated hardware and software offerings that enable true value creation for our customers.
The funding will support acceleration of the product roadmap to meet growing demand for higher performance, lower power, lower cost AI hardware and transformational AI software solutions in automotive, smart retail, smart city and industrial markets, Mr Dinakar said.
In 2020, Blaize successfully released and built a multi-year pipeline for the first generation Blaize AI edge computing hardware and software products with customer opportunities in the US, Europe, Japan, and Asia.
In India, expansive potential exists for Blaize to play a role in the AI-based transformational progress in agriculture, healthcare, smart city, and other initiatives, he said.
Blaize plans to strengthen its talent base in India by hiring engineers and AI technology experts across functions including hardware design, software development, verification, research and customer services, the CEO added.
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