MOUNTAIN VIEW — Groq Inc., a developer of compute accelerators for artificial intelligence (AI), machine learning (ML) and high performance computing, announced that it has closed its Series C funding round. Groq closed $300 million in new funding, co-led by Tiger Global Management and D1 Capital, with participation from The Spruce House Partnership and Addition.
This round brings Groq’s total funding to $367 million, of which $300 million has been raised since the second-half of 2020.
“AI is limited by existing systems, many of which are being followed or incrementally improved upon by new entrants. No matter how much money you throw at the problem, legacy architectures like GPUs and CPUs struggle to keep up with the growing demands of artificial intelligence and machine learning,” said Jonathan Ross, Groq Founder and CEO. “Our mission is more disruptive: Groq seeks to unleash the potential of AI by driving the cost of compute to zero.”
The round was co-led with investment from Tiger Global Management and D1 Capital. Further investment comes from The Spruce House Partnership, Addition, GCM Grosvenor, Xⁿ, Firebolt Ventures, General Global Capital, and Tru Arrow Partners, as well as follow-on investments from TDK Ventures, XTX Ventures, Boardman Bay Capital Management, and Infinitum Partners.
“We are more than doubling-down on our investment in Groq,” said Nicolas Sauvage, Managing Director, TDK Ventures. “Their elegant AI chipset architecture is impressive and will have a powerful impact for our planet. Scaling traditional compute consumes enormous energy. Groq’s solution delivers order-of-magnitude more efficient compute-per-energy performance at scale, thereby improving the carbon footprint of hyperscale data centers, an ideal about which TDK Ventures is very passionate.”
Groq’s tensor streaming processor (TSP) architecture is the industry’s fastest single core chip and eliminates the shortcomings of traditional computing. The Groq chip is easier to program, providing 10x lower latency compared to leading competitors.