Velaura AI raises $110M to develop low-power AI chips

Velaura AI has raised $110 million in a Series A funding round, bringing the company’s valuation to over $1 billion. The round was led by Seligman Ventures and included participation from the Samsung Catalyst Fund, Mayfield, and several other investors.

Formerly known as Auradine, the company recently pivoted from developing Bitcoin mining chips to focusing on low-power artificial intelligence hardware. Its new offering, Titan Core, consists of processor building blocks and professional services designed to assist customers in developing energy-efficient AI chips.

Velaura AI aims to address the growing power constraints in AI infrastructure. The company claims its technology can reduce the energy required for mathematical operations, such as matrix multiplications, by a factor of two to four. This efficiency is intended to support both large-scale data centers and the growing field of physical AI, which includes robots, drones, and autonomous systems.