Blaize, an AI edge computing solutions provider, has closed off a $71 million (£51m) series D round of funding.
Leading the round was Franklin Templeton, a new investor, alongside existing investor Temasek, with further participation from DENSO and others.
JP Scandalios, senior vice president and portfolio manager of Franklin Templeton, said: “Blaize has demonstrated the capability to enable value creation for organizations tapping the power of AI for edge computing.”
“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,” he added.
Kheng Nam Lee, deputy chairman at Vertex Venture Holdings, said: “We are pleased to welcome Franklin Templeton as the co-lead of the Blaize Series D.
“The prospects are substantial. Today Blaize is delivering to customers a distinct fusion of AI hardware and AI Studio end-to-end software platform that leads the industry in productization of high-value knowledge-driven edge computing solutions.”
Blaize’s System on Chip (SoC) edge function is accelerating electric vehicle (EV) ambitions for automotive OEMs.
Tony Cannestra, director of corporate ventures at DENSO, expanded on this: “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.”
Blaize will use the new funding to accelerate its product roadmap, as demand for higher performance and lower costs continue to grow across automotive, smart retail, and smart city markets, it revealed in a press release.
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