Etched Raises $120M in Series A
Etched has successfully raised $120M in a Series A at a $500M valuation led by Primary Venture Partners, Positive Sum Ventures, Gaingels, Riverside Ventures.
Company Overview
Etched is a AI Hardware company headquartered in Cupertino, CA, founded in 2022 with 35+ employees.
Custom AI chips for transformers
Fundraising Details
- Amount Raised: $120M
- Round Type: Series A
- Valuation: $500M
- Date: 2024-06-26
- Investors: Primary Venture Partners, Positive Sum Ventures, Gaingels, Riverside Ventures
About Etched
Custom AI chips for transformers The company is positioned in the AI Hardware sector, serving a growing market with innovative solutions.
Key Information
- Headquarters: Cupertino, CA
- Founded: 2022
- Team Size: 35+
- Industry: AI Hardware
What This Means
This funding round demonstrates strong investor confidence in Etched's vision and execution. The capital will likely be used to:
- Scale Operations: Expand the team and operational capacity
- Product Development: Enhance existing products and develop new features
- Market Expansion: Enter new markets and strengthen presence in existing ones
- Technology Investment: Invest in infrastructure and technology capabilities
Industry Context
The AI Hardware sector continues to attract significant investment as companies innovate to meet evolving market demands. Etched's successful fundraising reflects the strong fundamentals and growth potential in this space.
Valuation Milestone
Reaching a $500M valuation marks an important milestone for Etched, positioning the company among notable players in the AI Hardware industry.
Looking Ahead
With this new capital, Etched is well-positioned to execute on its growth strategy and continue building innovative solutions in the AI Hardware space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.
---
This fundraising news was reported on 2024-06-26. For more information about Etched, visit their headquarters at Cupertino, CA.
