Upscale AI Raises $190M Series A at $2B for AI Networking

Fundraise Insider tracks newly funded startups each week and delivers verified B2B leads list of C-suite contacts straight to your inbox, so you reach the right people while the funding is still fresh. See pricing.

Upscale AI, a Santa Clara, California networking company, has added $190 million in an extension to its Series A, a round it calls Series A-1, at a $2 billion valuation. The raise brings the company’s total funding to $500 million, all of it gathered in under 18 months.

Premji Invest, a $15 billion investment fund, led the round. New investors include Nvidia, Salesforce Ventures, Temasek, and Seligman Ventures, joined by returning backers Maverick Silicon, Mayfield, Prosperity7 Ventures, StepStone Group, and Tiger Global.

The company builds an integrated stack of hardware, systems, and software designed to connect AI chips, memory, and storage so large models can train and run with less latency. The aim is to let processors from competing chip vendors work together at full speed.

That open approach has drawn wide support. More than 80 companies, including AMD, Intel, Google, Meta, and Microsoft, have signed on to back the open standard behind Upscale’s technology.

The scale of the raise, and the roster of strategic backers, signals how much weight investors are placing on the networking layer that ties together large AI computing clusters.