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Home > News > Industry News > Graphcore raises another $30m

Graphcore raises another $30m

  • Author:Ella Cai
  • Release on:2017-07-21
Graphcore, the Bristol AI processor start-up headed up by Nigel Toon, has raised another $30 million taking its total funding to $60 million..

Skype founder Niklas Zennstrom is lead investor for the new funding round through his Atomico company. Demis Hassabis, CEO of DeepMind, Amadeus, C4 Ventures, Draper Esprit, Foundation Capital, Pitango and the venture arms of Bosch, Dell and Samsung are participating. 

Graphcore, which spun out of XMOS, raised $30 million in 2016. It currently has 60 employees. 

Graphcore has a server processor it calls an IPU – an Intelligence Processing Unit. Graphcore intends to sample IPUs to ‘test customers’ this year and hopes to sell them in 2018. 

The IPU is said to hold a complete machine learning model inside the processor and, in another claim explaining the algorithm speed-up, to have 100x more memory bandwidth than other solutions.