Fundz

Modular Closes $30 Million Seed Round To Simplify The Process Of Developing Ai Systems

PRIVATEJun 30, 2022

Amount Raised

$30 Million

Round Type

Seed

Palo AltoSoftwareData And AnalyticsScience And EngineeringArtificial Intelligenceinformation technology & services

Description

AI has transformative potential. But if you ask the co-founders of Modular, a startup emerging from stealth today, the software used to develop it is “monolithic,” fractured into silos piled with layers of complexity. Big Tech companies have made helpful contributions, like TensorFlow and PyTorch — AI development frameworks maintained by Google and Facebook, respectively. But these companies, the Modular co-founders posit, show a preference for their tooling and infrastructure at the expense of the AI’s progress.

Who else raised in Data And Analytics and Science And Engineering around the same time

Companies in the same sectors as Modular that raised within 45 days of this round, from Fundz verified event records.

  • BrainBox AI raised an undisclosed amount (Series A) on July 26, 2022.
  • Spice AI, Inc. raised $15M on July 15, 2022.
  • Bobidi raised $5.8M (Funding Round) on July 14, 2022.
  • Deci raised $25M (Series B) on July 13, 2022.
  • Neuron7.ai raised $10M (Funding Round) on June 23, 2022.
  • Sanas raised $32M (Funding Round) on June 22, 2022.

Who to call at Modular, and when

A new round usually means Modular is about to hire and buy. The teams that reach out first get the meeting.

  • An alert the day Modular raises, hires an executive or expands, scored against what you sell
  • The decision-makers there, with verified emails
  • Who you already know at Modular, from your own LinkedIn network

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Company Information

Company

Modular

Location

Palo Alto, California, United States

About

But these companies, the Modular co-founders posit, show a preference for their tooling and infrastructure at the expense of the AI’s progress. Founded by former Apple and Google engineers and execs, the company today closed a large ($30 million) seed round led by GV (formerly Google Ventures), with participation from Greylock, The Factory and SV Angel to realize its vision of a streamlined, platform-agnostic AI system development platform. “The reason those companies are successful at deploying AI is that they amass armies of developers, incredibly talented AI tinkerers, and use their vast compute and financial resources to further their own efforts and products — including their own clouds and AI hardware. Modular has other rivals, including Lightning AI and Gantry, both of which sell access to infrastructure for creating and maintaining AI models.

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Fundz sees it the moment Modular raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.

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Modular raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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