Upscale AI valued at $2 billion after funding extension

June 22 (Reuters) – AI networking infrastructure firm Upscale AI said on Monday it had raised a $190 million extension to its early-stage funding round, bringing its valuation to $2 billion.

Here are some details:

• The investment brings the company’s total funding to $500 million. Premji Invest, the investment unit of Indian billionaire Azim Premji, led the round.

• New investors, including Nvidia, Salesforce Ventures, Seligman Ventures and Singapore state investor Temasek, joined the round.

• Existing investors, including Maverick Silicon, Mayfield, Prosperity7 Ventures, StepStone Group and Tiger Global also participated in the funding round.

• Upscale AI builds hardware, systems and software that connect AI chips, memory and storage across one fast network, helping large AI models train and run more efficiently with fewer delays.

• The company said it will use the capital to expand its business and speed delivery of its advanced AI-native networking technology.

• Upscale AI had raised $200 million in January, in a Series A round led by Tiger Global, Premji Invest, and Xora Innovation.

(Reporting by Anhata Rooprai in Bengaluru; Editing by Tasim Zahid)