Groq gains funds to expand tensor AI applications

Groq gains funds to expand tensor AI applications

Business news |
By Peter Clarke

The company raised more than $60 million across its previous rounds,according to Crunchbase, and now plans to double its headcount in 2020 and double it again in 2021.

Groq said it would use the money to expand into other markets from its starting point in the data center. Other applications could include automotive computation for autonomous driving.

The latest round was led by D1 Capital Partners and included new strategic investors such as TDK Ventures. All of Groq’s existing strategic investors took part in the round. Investors include NJF Capital and Social Capital.

“Existing architectures are limited and have slowed the ability for us to take models to production that we’ve already trained. I’ve looked at many solutions, and I backed Groq based on the strength of their team and their potential to unlock the use of extremely large models for inference going forward,” said Adam D’Angelo, the founder and CEO of Quora and a former Facebook CTO, in a statement issued by Groq.

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