Modular

Summary

Modular, an AI hardware and software startup founded by former Google and Apple engineers, announced a $250 million financing that values the company at $1.6 billion. The Series C round was led by Thomas Tull’s US Innovative Technology Fund, with participation from DFJ Growth, Google Ventures, General Catalyst, and Greylock Venture Partners. Modular’s platform lets developers run AI applications across different chips (CPUs, GPUs, NPUs, etc.) without rewriting code. The new capital (bringing total known funding to about $380M) will accelerate R&D and expansion as Modular seeks to challenge established AI chip players by making compute infrastructure more flexible and cross-platform.