Velaura AI Secures $110 Million Series A Funding, Valuation Exceeds $1 Billion

According to Reuters, chip design startup Velaura AI has completed a $110 million Series A funding round, with a post-money valuation exceeding $1 billion. The round was led by Seligman Ventures, with participation from Capricorn Investment Group, Samsung Catalyst Fund, StepStone Group, and Maverick Silicon. Velaura AI develops low-power chips and software technologies for data centers, robotics, and autonomous driving systems. The funds will be used to accelerate the development and deployment of AI products and expand the engineering and customer service teams. Velaura AI's technology has already been deployed in over 30 million chips and is currently in discussions with three of the four major cloud computing service providers for collaboration.