News provided by
Dec 20, 2024, 08:23 ET
NEW YORK, Dec. 20, 2024 /PRNewswire/ — Jackson Rose, a venture capital firm, is proud to announce its participation in Tenstorrent’s Series D funding round alongside Bezos Expeditions, LG Electronics, and Hyundai Motor Group. The round was led by Samsung Securities and AFW Partners. Other investors in the round include Fidelity Management, Healthcare of Ontario Pension Plan, and Baillie Gifford. Tenstorrent raised over $693M in its Series D round at a pre-money valuation of $2B.
“We are excited to be working with Jackson Rose to scale our business for the future,” said Keith Witek, Chief Operating Officer of Tenstorrent. “Jackson Rose is part of the syndicate of investors that gives Tenstorrent a balance of financial investors, industry luminaries, and strategic investors that are all unified in their conviction of our plans for AI. They respect our team, our technology, and our vision. They see the ~$150M in deals closed as a strong signal of commercial traction and opportunity in the market.”
Tenstorrent will use the Series D funding to build out open-source AI software stacks, hire developers, expand its global development and design centers, and build systems and clouds for AI developers.
“Our investors are great,” said Jim Keller, CEO of Tenstorrent. “During the fundraising process I was impressed by how interested our investors were in our open-source approach to software. They realize that the way to win is to get developers on board by giving them all the tools they need to own their own technology.”
About Tenstorrent
Tenstorrent is a next-generation computing company that builds computers for AI. Tenstorrent is headquartered in North America and has locations in Toronto, Austin, and Silicon Valley, and global offices in Belgrade, Tokyo, Bangalore, Singapore, and Seoul. Tenstorrent brings together experts in the fields of AI software, computer architecture, silicon design, and advanced systems. Tenstorrent is backed by Eclipse Ventures and Real Ventures, among others. Learn more @ tenstorrent.com.
About Jackson Rose
Jackson Rose is a venture capital firm headquartered in New Jersey. For more information, please email sheehan@jacksonrose.vc.
SOURCE Jackson Rose