Blaize, AI Solution for Edge Computing, Announces $71M Series D Financing
El DORADO HILLS, Calif., July 27, 2021 -- Blaize, an AI computing company creating edge and automotive computing solutions, today announced the close of a $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.
“Blaize has demonstrated the capability to enable value creation for organizations tapping the power of AI for edge computing,” said JP Scandalios, senior vice president and portfolio manager, Franklin Templeton. “We are excited to invest as Blaize leadership takes strides to realize their vision. Automotive, and numerous edge AI markets, such as retail and metro, hold tremendous potential for Blaize to expand on their early market position as the adoption of AI at the edge accelerates, creating a new wave of industrial systems.”
“Blaize System on Chip (“SoCs”) for automotive edge and central compute functions are accelerating electric vehicles and future architectural ambitions of automotive OEMs,” said Tony Cannestra, Director of Corporate Ventures, DENSO. “With substantial power advantages making EVs more efficient and economical, Blaize SoCs offer best in class performance with lower power across in-cabin, out of vehicle, and autonomous operations, enabling a streamlined architectural evolution to centralize compute.”
“We are pleased with the participation of new and existing premier investors in the Series D round,” said Dinakar Munagala, CEO, Blaize, “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. In 2020, Blaize successfully released and built a multi-year pipeline for the first generation Blaize AI edge computing hardware products based on the Blaize GSP architecture, and the Blaize AI Studio end-to-end application lifecycle software platform.
Blaize is a leader in new-generation computing unleashing the potential of AI to enable leaps in the value technology delivers to improve the way we all work and live. Blaize offers transformative edge AI computing solutions in automotive, mobility, smart retail, security, industrial and metro market sectors. Prior to the Series D, Blaize had secured US$87M in equity funding from strategic and venture investors DENSO, Daimler, SPARX Group, Magna, Samsung Catalyst Fund, Temasek, GGV Capital, Wavemaker and SGInnovate. With headquarters in El Dorado Hills (CA), Blaize has teams in Campbell (CA), Cary (NC), and subsidiaries in Hyderabad (India), Manila (Philippines), and Leeds and Kings Langley (UK), with 300+ employees worldwide. www.blaize.com