Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Dell Invests in Bristol-based Machine Learning Chipmaker Graphcore

Processor manufacturer Graphcore  revealed to have received an investment from multinational computer tech giant Dell, via its venture arm Dell Technologies Capital.

Dell had already backed the Bristol-based startup in its £25 million Series A round in October 2016— together with corporate investors Bosch and Samsung and VC firms Amadeus, Foundation, Pitango, Draper Esprit and C4 Venture.

In a statement, Graphcore said that Dell would provide “more than just capital. They give Graphcore access to the global scale, channel, OEM [Original Equipment Manufacturer], product integration and go-to-market relationships.” Financial details of the investment have not been disclosed.

Founded in 2016 by Simon Knowles and Nigel Toon, Graphcore is developing a new kind of “multidimensional” semiconductors called Intelligence Processing Unit (IPU.) It says that IPUs, together with its homebrewed software, would allegedly be five to ten times faster than state-of-the-art processors at deep learning training, and up to 50 times faster at creating recurrent neural networks.

The company’s intended market, at least initially, will be comprised of “those at the cutting edge of machine learning”, such as AI researchers in universities and large companies’s R&D labs.

But Graphcore also revealed that it is “seeing huge interest in Graphcore platforms from forward thinking CIOs [chief information officers] and data scientists in a broad range of companies in different industry sectors.”

Image via Graphcore

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