Blaize Secures $106M in Funding, Solidifying Leadership Position in Edge AI Computing
EL DORADO HILLS, Calif., April 29, 2024 -- Blaize, an AI computing innovator revolutionizing edge computing solutions, today announced it has raised $106 million from existing investors, including Bess Ventures, Franklin Templeton, DENSO, Mercedes Benz, and Temasek and new investors Rizvi Traverse, Ava Investors and BurTech LP LLC.
Blaize provides full-stack AI-enabled computing solutions across diverse and expanding markets, encompassing automotive, mobility, retail, security, industrial automation, healthcare and others. Blaize’s programmable American-made processor architecture and low-code/no-code software platform solutions enable enterprises to rapidly harness the power of AI at the periphery of the network and in the data center. These solutions deliver real-time insights and decision-making capabilities with speed and efficiency.
This efficient processor architecture is designed to address the inherent challenges of edge AI processing, providing high-performance computing with low power consumption, minimal latency and high efficiency. The Blaize architecture includes its software suite composed of Blaize® AI Studio® and Blaize® Picasso® SDK (Software Development Kit), providing customers with a user-friendly and flexible means to swiftly develop and deploy applications at a highly optimized total cost of ownership.
“This investment lends further credence to our thesis that edge AI is revolutionizing all industries, and we are supercharging our roadmap to deliver its promise,” said Dinakar Munagala, CEO of Blaize. “Blaize has always focused on solving real customer problems and empowering developers and innovators. Our current and next-generation offerings will deliver value across all AI applications, including computer vision, transformers, and multimodal Generative AI. Our unique, fully programmable approach makes us ready for the unknown. This is ideal in the fast-changing AI applications landscape, de-risking and reducing cost for our customers, scaling from the edge to the data center, with one uniform and complete hardware and software solution.”
In December 2023, Blaize announced its intention to go public through a business combination with Nasdaq-listed BurTech Acquisition Corp (“BurTech”). This funding will strengthen the company’s balance sheet and accelerate the Blaize roadmap of platforms and solutions for AI computing from the edge to the data center. The company expects to use the financing to capitalize on its current technology and strengthen its position in the market in hardware and software for automotive, computer vision, AI inference, and generative AI.
Latham & Watkins LLP is acting as legal counsel to Blaize on the financing.
About Blaize
Blaize has developed a purpose-built, full-stack programmable processor architecture suite and a low-code/no-code software platform that enables AI processing solutions for high-performance computing in multiple large and rapidly growing markets. The Blaize proprietary solutions enable enterprises to harness the power of AI at the periphery of the network and in the data center, delivering real-time insights and decision-making capabilities with speed and efficiency. Our efficient processor architecture addresses the inherent challenges of edge AI processing, providing high-performance computing at low power consumption, minimal latency, and high efficiency. Our comprehensive partner ecosystem of cloud service providers, independent software vendors, aggregators, industrial personal computer vendors, and others provides turn-key solutions based on and complementing our technologies. Blaize previously raised $224 million from strategic investors such as DENSO, Mercedes Benz, Magna, and Samsung and financial investors such as Franklin Templeton, Temasek, GGV, and Bess Ventures. Headquartered in El Dorado Hills (CA), Blaize has more than 200 employees worldwide with teams in San Jose (CA), Cary (NC), and subsidiaries in Hyderabad (India), Leeds and Kings Langley (UK), and Abu Dhabi (UAE).
Source: Blaize
