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AI Startup Seeks $200M Despite No Product Yet
17 Apr
Summary
- Upscale AI is reportedly seeking $180M-$200M in new funding.
- The company aims for a $2 billion valuation in its third round.
- Upscale AI has not yet released a product to the public.
Upscale AI, an AI infrastructure company, is reportedly in discussions for its third funding round since its inception seven months ago. The goal of this latest funding effort is to raise between $180 million and $200 million.
This new investment would potentially value the company at around $2 billion. This follows previous fundraising successes, including a $200 million Series A announced in January and a $100 million seed round in September of last year.
Interestingly, Upscale AI has not yet launched any product. The company's focus is on developing custom chips and the necessary infrastructure for them to communicate effectively.
They are advocating for a full-stack solution and open standards as the future for scalable AI infrastructure. The rumored valuation and funding pursuit are characteristic of the current AI startup landscape, marked by rapid growth and high valuations.
