Groq, a start-up based in Mountain View, California, raised $640 million in a Series D round, bringing its valuation to $2.8 billion. The funding was spearheaded by BlackRock Private Equity Partners, with contributions from existing and new investors such as Neuberger Berman, Type One Ventures, Cisco Investments, Global Brain’s KDDI Open Innovation Fund III, and Samsung Catalyst Fund. The influx of capital will support Groq’s expansion and innovation in AI inference.
- Total Raised: $640 million Series D
- Valuation: $2.8 billion
- Lead Investor: BlackRock Private Equity Partners
- Notable Participants: Neuberger Berman, Type One Ventures, Cisco Investments, Global Brain’s KDDI Open Innovation Fund III, Samsung Catalyst Fund
Groq’s vertically integrated AI inference platform, known for its exceptional speed, has seen surging demand from developers. CEO Jonathan Ross highlighted the company’s goal to democratize AI resources, aiming to deploy over 100,000 additional LPUs into GroqCloud. Groq’s platform supports a variety of open models, fueling innovation in AI applications. With the addition of Stuart Pann as COO and Yann LeCun as a technical advisor, Groq is poised to enhance its technological capabilities and market reach. This funding round will enable Groq to scale its capacity and maintain its position as a leader in AI inference technology.
