Modular Secures $100M Funding to Advance AI Development

Modular Secures 0M Funding to Advance AI Development

Modular, an innovative remote AI development tool provider for businesses, has secured $100 million in a new round of funding. With this recent infusion, the company’s total funding reached an impressive $130 million. Spearheading the investment was General Catalyst, joined by prior backers, including Google Ventures, SV Angel, Greylock, and Factory.

Expansion on the Horizon

The freshly acquired capital will be channeled towards broadening the company’s reach and amplifying its development initiatives. Under the guidance of its CEO, Chris Lattner, Modular offers a unique platform for AI developers. It simplifies the process of incorporating AI technologies, allowing swifter deployment of innovations. As a result, customers can gain better returns on their AI investments. One of the platform’s standout features is its seamless integration into existing customer environments, backed by native multi-cloud, diverse hardware accelerators, and multiple AI framework support.

Unified AI Engine and the Rise of Mojo

In its stride towards AI development excellence, Modular has designed a unified AI engine. This engine is seamlessly compatible with predominant AI frameworks like TensorFlow and PyTorch. Not only does it promise enhanced performance but also notable cost reductions on existing CPUs. What’s more, there’s an anticipation of GPU support by this year’s Fall. But that’s not all. Modular’s brainchild, Mojo, is an AI-specific programming language, believed to outpace Python in speed. Mojo bridges the ease-of-use of Python with the robust performance of C, ensuring a standardized interface across the AI hardware spectrum.

Open Source Commitment

In its vision for the future, Modular pledges to open source the Mojo standard library. They also aim to encourage and welcome contributions, hoping to accomplish this goal before this year concludes.