Venture Capital Access Online logo
Venture Capital Access Online

Celestial AI Closes $175 Million Series C Funding Round Led by U.S. Innovative Technology Fund

Share This Article

Investment to scale the commercialization of Celestial AI’s Photonic Fabric™ technology platform

SANTA CLARA, Calif., March 27, 2024-- Celestial AI™, creator of the Photonic Fabric™ optical interconnect technology platform, today announced it raised $175 million in its Series C funding round led by Thomas Tull’s U.S. Innovative Technology Fund (USIT). In addition to USIT, the round included participation from new and existing investors including AMD Ventures, Koch Disruptive Technologies (KDT), Temasek, Temasek’s wholly owned subsidiary Xora Innovation, IAG Capital Partners, Samsung Catalyst, Smart Global Holdings (SGH), Porsche Automobil Holding SE, Engine Ventures, M-Ventures and Tyche Partners.

“This highly oversubscribed financing round is another testament to Celestial AI’s position to disrupt the market, and reflects the magnitude of business opportunity before us,” said Dave Lazovsky, Celestial AI founder and CEO. “Today’s advanced AI models require exponentially more I/O bandwidth and memory capacity but are currently constrained by low bandwidth and high latency. Our Photonic Fabric™ technology is rapidly becoming the de facto standard for Accelerated Computing optical interconnectivity, driven by unparalleled performance and efficiency.”

Amid the explosive growth in demand for generative AI applications and next-generation data centers, hyperscalers are increasingly constrained by utility power availability, memory capacity and high cost of operation. Celestial AI’s Photonic Fabric optical interconnect technology addresses these critical challenges by revolutionizing memory and compute fabrics. This transformational solution provides the foundational technology for users to continue making advancements in AI while maintaining scalable, sustainable and profitable business models. This latest round of funding will enable Celestial AI to execute multiple large-scale customer collaborations focused on commercializing its breakthrough Photonic Fabric technology platform.

“As AI continues to rapidly evolve, it’s imperative that the U.S. remains a global leader in AI innovation,” said Thomas Tull, Chairman of USIT. “The sophisticated work Celestial AI is doing on interconnectivity is critical to addressing key concerns across performance and energy efficiency to ensure the industry has the necessary infrastructure to continue to innovate and scale. We look forward to working with and supporting Celestial AI as it continues to set the industry standard.”

Celestial AI’s Photonic Fabric is the industry’s only optical connectivity solution that enables the disaggregation of compute and memory, which allows each component to be leveraged and scaled most effectively. This breakthrough technology delivers over 25x greater bandwidth and memory capacity while reducing latency and power consumption by up to 10x compared to existing optical interconnect alternatives and copper.

“The exponential growth of AI models coupled with successful validation of Celestial AI's Photonic Fabric technology in silicon has led to tremendous demand for this technology by hyperscalers,” said Chase Koch, Founder of KDT and Executive Vice President at Koch Industries. “The potential of this technology to dramatically reduce the power consumption for processing extensive AI workloads enables a new era of sustainable and scalable compute capacity. We are thrilled to continue this transformative journey with Celestial AI."

To learn how Celestial AI’s Photonic Fabric is supercharging AI infrastructure, please visit: https://www.youtube.com/watch?v=3Yg3iivtzEE.

About Celestial AI

Celestial AI is the creator of the Photonic Fabric, an optical interconnect technology platform for compute and memory. The Photonic FabricTM provides the foundational technology for optically scalable, disaggregated data center compute and memory to unleash advancements in AI with sustainable and profitable business models. If you would like to learn more about Celestial AI, please visit the company’s website at https://www.celestial.ai/.

Contact:
Media Contact
Tyler Weiland
Shelton Group Public Relations
+1-972-571-7834
tweiland@sheltongroup.com

Company Contact
Preet Virk
Co-Founder and COO
pv@celestial.ai

News Index
Venture Capital Database | Private Equity Database
VCPro Database

VCPro Database 2024

2024 New Edition Now Available!

Price: $119.5 (includes a free mid-year update in July 2024)

Easily access venture capital with the affordable VCPro Database 2024: the premier directory for venture capital and private equity.