Bristol-based unicorn business, Graphcore, has announced it has successfully secured a further £117.5m ($150m) in its latest fundraise.
Graphcore is a semiconductor company that develops accelerators for AI and machine learning.
This funding has been supported by financial asset managers, growth equity funds and investment trusts and includes new investors Baillie Gifford, Mayfair Equity Partners and M&G Investments alongside existing investors such as Merian Chrysalis.
Nigel Toon, CEO at Graphcore said: “I am pleased to announce that Graphcore has secured an additional $150m in new capital to secure our position as the leading pure-play machine intelligence AI processor company.”
At the end of 2018, Graphcore closed a $200m Series D investment and have today extended that funding round with this additional $150m private placement. This brings the total investment in Graphcore to date to over $450m with the most recent valuation at $1.95bn.