AI chip design company Velaura AI completes $110 million Series A funding round, led by Seligman Ventures

Odaily reported that artificial intelligence chip design company Velaura AI has announced the completion of a $110 million Series A funding round, with a valuation exceeding $1 billion. Seligman Ventures led the round, with participation from Capricorn Investment Group, Samsung Catalyst Fund, StepStone Group, and Maverick Silicon. The company primarily develops low-power chips and software technologies for data centers and physical AI applications, including robotics and autonomous systems. The new funds will be used to accelerate the development and deployment of its AI products, as well as to recruit engineers and customer service personnel. It was also noted that the company is in discussions with three of the four major cloud computing service providers, hoping to develop them into potential customers, but declined to disclose which three specifically. (Reuters)