Groq raises $300m

Groq raises $300m

Groq, which designs accelerators for AI, ML and HPC, has closed its Series C fundraising.

Groq raised $300 million in new funding, co-led by Tiger Global Management and D1 Capital, with participation from The Spruce House Partnership, Addition, GCM Grosvenor, Xⁿ, Firebolt Ventures, General Global Capital, and Tru Arrow Partners, as well as follow-on investments from TDK Ventures, XTX Ventures, Boardman Bay Capital Management, and Infinitum Partners.

This round brings Groq’s total funding to $367 million, of which $300 million has been raised since the second-half of 2020.

“Groq seeks to unleash the potential of AI by driving the cost of compute to zero,” says CEO Jonathan Ross.

Groq raises $300m

Groq’s tensor streaming processor (TSP) architecture is claimed to be the industry’s fastest single core chip which eliminates the shortcomings of traditional computing.

The Groq chip is easier to program, providing 10x lower latency compared to leading competitors, claims the company.

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