Modular has secured US$250 million in a series C round led by the US Innovative Technology fund, with participation from DFJ Growth and existing investors including GV, General Catalyst, and Greylock Ventures.

The funding values Modular, a US-based AI infrastructure startup, at US$1.6 billion.

Founded in 2022, Modular builds a platform designed to unify AI compute across hardware and software.

Since its 2023 launch, the platform has been downloaded tens of thousands of times each month and is used by developers in over 100 countries.

The company will use the new capital to expand its platform to cloud and edge hardware and further develop its AI infrastructure products.

🔗 Source: Modular