Led by SoftBank Vision Fund 2, the Series D funding round takes the total capital raised by the company to more than $1bn


SambaNova offers a subscription-based, extensible AI services platform, Dataflow-as-a-Service. (Credit: Pexels from Pixabay)

US-based SambaNova Systems has raised $676m capital in the latest funding round that valued the AI startup at more than $5bn.

The Series D funding round led by SoftBank Vision Fund 2 saw the participation of additional new investors Temasek and GIC.

Existing investors including funds and accounts managed by BlackRock, Intel Capital, GV (formerly Google Ventures), Walden International and WRVI have also taken part in the funding round.

With the new funding, the AI systems and services platform company has taken its total capital raise to more than $1bn.

In February last year, the company raised $250m in a Series C funding round that was led by funds and accounts managed by BlackRock.

SoftBank Investment Advisers senior managing partner Deep Nishar said: “SambaNova has created a leading systems architecture that is flexible, efficient and scalable.

“This provides a holistic software and hardware solution for customers and alleviates the additional complexity driven by single technology component solutions.

“We are excited to partner with Rodrigo and the SambaNova team to support their mission of bringing advanced AI solutions to organisations globally.”

SambaNova currently offers a subscription-based, extensible AI services platform, Dataflow-as-a-Service.

It is designed to boost enterprise-level AI initiatives, augment organisations’ AI capabilities and accelerate the work of existing data centres.

Dataflow-as-a-Service is powered by SambaNova’s DataScale, an integrated software and hardware systems platform.

With optimised algorithms and advanced processors, the DataScale platform is designed to deliver enhanced capabilities and efficiency across applications for training, inference, data analytics, and high-performance computing.

Built on SambaNova Systems Reconfigurable Dataflow Architecture, SambaNova DataScale was launched in December last year. The platform allows enterprises to bring new services and products to market faster.

SambaNova chairman Lip-Bu Tan said: “In working with the industry’s premier investors, we have the support needed to bring SambaNova’s bold vision to life and make AI accessible for any organisation.

“The democratisation of artificial intelligence will certainly accelerate how the technology impacts our world and will unlock new possibilities for its use.”