Tech Company Financing Transactions
Lightning AI Funding Round
Lightning AI, based in New York, secured $18.6 million from Index Ventures, Bain Capital Ventures and Firstminute Capital.
Transaction Overview
Company Name
Announced On
10/9/2020
Transaction Type
Venture Equity
Amount
$18,600,000
Round
Series A
Investors
Proceeds Purpose
With this new funding, Grid plans to expand its team and strengthen its corporate offering via both Grid AI and through the open-source project. Falcon tells me that he aims to build a diverse team, not in the least because he himself is an immigrant, born in Venezuela, and a U.S. military veteran.
Company Information
Company Status
Private & Independent
Industry
Artificial Intelligence
Mailing Address
32 Cooper Sq. 3
New York, NY 10003
USA
New York, NY 10003
USA
Phone
Undisclosed
Website
Email Address
Overview
Lightning AI (formerly Grid.ai or Grid AI) enables companies of all sizes to train state-of-the-art AI models on hundreds of cloud GPUs and TPUs from their laptops. From the creator of the popular framework PyTorch Lightning, Grid is a platform for training models that enables rapid research iteration.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
William Falcon
Chief Technical Officer
Luis Capelo
VP - Engineering
Ihar Mahaniok
VP - Human Resources
Alex Rose
VP - Operations
Kara Brothers-Phillips
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Where The Data Comes From
We report on all VC transactions involving tech companies. VC investment data records reported here are sourced from news reports and company announcements. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.
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