Aug 18 (Reuters) – Artificial intelligence hardware startup Etched said on Tuesday it raised $700 million in a funding round that valued it at $21 billion.
The funding round was led by Jane Street, with participation from Kleiner Perkins, Sequoia, Andreessen Horowitz, Tiger Global, among others. Etched said it has raised $1.9 billion to date.
Etched added it has secured more than $1 billion in customer contracts across public and private AI companies and cloud providers.
The company builds AI inference systems designed to make models faster and cheaper to run.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Vijay Kishore)
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