Several tech startups — Groq, Graceview, Board Intelligence, Riverlane, among others — have announced their venture capital funding to bolster innovation and business growth.
Groq raises $640 mn
Groq, a provider of AI inference, has secured $640 million in its Series D round at a valuation of $2.8 billion.
The VC funding round was led by BlackRock Private Equity Partners with participation from both existing and new investors including Neuberger Berman, Type One Ventures, and strategic investors including Cisco Investments, Global Brain’s KDDI Open Innovation Fund III, and Samsung Catalyst Fund.
Groq will use the funding to deploy more than 100,000 additional LPUs into GroqCloud.
Graceview raises $1.5 mn
Graceview, a provider of AI for compliance, has closed funding round totalling $1.5 million.
The VC funding round was led by Singapore-based entrepreneur, Patrick Linton and brings together a consortium of tech founders and investors.
Board Intelligence receives growth investment
Board Intelligence, a software platform, announced a strategic growth investment from K1 Investment Management.
Board Intelligence will use the VC funding for product and geographic expansion and strategic acquisitions.
Riverlane raises $75 mn
Riverlane, a provider of quantum error correction technology, has raised $75 million in Series C funding to deliver its quantum error correction roadmap.
The VC funding will enable Riverlane to expand operations to meet global market demand for QEC technology.
The funding round was led by Planet First Partners, the European growth equity sustainable investment platform, with participation from sustainability venture capital investors ETF Partners and Singapore-based global investor, EDBI.
Apromore receives $15 mn
Apromore, a provider of AI-driven process mining and digital solutions, has closed an additional $15 million in funding, led by existing investors with participation by Tin Alley Ventures, a joint venture between Tanarra Capital and the University of Melbourne and other investors.
Apromore has raised $25.3 million in Series B round.
Apromore will use the funding to support additional expansion in the US and Europe and accelerate Apromore’s AI product roadmap.
KNIME secures $30 mn
KNIME, an open-source data science and AI company, has raised $30 million from existing Invus.
KNIME has raised $50 million to date. KNIME aims at developing its AI governance and ModelOps capabilities.
Since 2017, KNIME has grown revenue to €30 million, at 30-40 percent per year. It has nearly 400 customers. It has a team of 250 employees worldwide. The KNIME user base includes nearly half a million people, making it the largest low-code data science community in the world.
Abnormal Security secures $250 mn
Abnormal Security, a provider of AI-native human behavior security, has closed its Series D funding round, with total expected proceeds of $250 million at a $5.1 billion valuation.
The VC funding was led by Wellington Management, with participation from existing investors Greylock Partners, Menlo Ventures, Insight Partners and CrowdStrike Falcon Fund.
Abnormal Security will use the capital to protect humans from cybercrime through the power of AI, understanding human behavior to detect and prevent today’s most dangerous socially engineered attacks.
