Modal, a New York-based AI-native infrastructure startup, has raised $87 million in a Series B round, at a $1.1 billion valuation.
Investors
The round was led by Lux Capital, with participation from existing investors, bringing Modal’s total capital raised to $111 million.
Lux Capital is a venture capital firm that invests in innovative, high-growth companies across various sectors, including healthcare, technology, and energy. The firm focuses on funding disruptive technologies and visionary entrepreneurs who are shaping the future in industries such as AI, robotics, and life sciences.
Modal Use of Funds
The company will use the funds to expand its product suite, scale its global compute network, and optimize its infrastructure for AI developers, enabling faster and more efficient deployment of machine learning models.
About Modal
Founded by Erik Bernhardsson and Akshat Bubna, Modal is a company that provides a global, code-first compute platform built specifically for AI and machine learning workloads. Its platform supports the full machine learning lifecycle, from training and inference to batch processing and sandboxed environments. Modal’s technology is designed to address the growing demands of AI workloads, including generative AI inference, large language model fine-tuning, computational biotech, media processing, and other resource-intensive applications. With headquarters in New York, Stockholm, and San Francisco, Modal’s customer base includes companies working on a wide range of AI applications, from drug discovery to generative media production.
Funding Details
Company: Modal
Raised: $87.0M
Round: Series B
Funding Date: September 2025
Lead Investor: Lux Capital
Additional Investors: Existing investors
Company Website: https://modal.com/
Software Category: AI Infrastructure / Cloud Compute / Developer Tools
Source: https://arcticstartup.com/modal-raises-87-million-series-b/