Graphcore secures £164m Series E investment led by Ontario Teachers' Pensions Plan
The Series E round was led by Ontario Teachers' Pensions Plan to fund global expansion and product development.
Graphcore develops advanced intelligence processing units, systems and software designed to accelerate artificial intelligence compute workloads.
Graphcore has secured £164m in Series E funding to support its global expansion and accelerate the development of its silicon, systems and software. The round was led by the Ontario Teachers' Pensions Plan Board, with participation from new investors Fidelity International and Schroders, alongside existing backers Baillie Gifford and Draper Esprit. Following this transaction, the company has raised over $710m in total and holds more than $440m in cash reserves, reaching a post-money valuation of $2.8bn.
Use of funds
- 01Expand into international markets
- 02Fund research and development
