RunPod, a Mt. Laurel, New Jersey-based globally distributed GPU cloud platform, has raised $20 million in seed funding.
Investors
The round was co-led by Intel Capital and Dell Technologies Capital, with participation from individual investors Julien Chaummond, Nat Friedman, and Adam Lewis.
Founded in 1991, Intel Capital is the corporate venture capital arm of Intel, based in Santa Clara, California. Intel Capital invests in innovative startups targeting cloud and AI infrastructure, cybersecurity, and other disruptive technologies.
Dell Technologies Capital is a VC arm of Dell Technologies that invests in enterprise and cloud infrastructure. DTC invests in determined early-stage founders who push the envelope on technology innovation for the enterprise, connecting them to the capital, expertise, and customers they need to take a company from start to scale.
Mark Rostick, Vice President and Senior Managing Director at Intel Capital will join RunPod’s board of directors in conjunction with the financing.
RunPod Use of Funds
The funding will be utilized to enhance the developer experience, expand partnerships and integrations for seamless user experiences, and further develop the RunPod platform. Additionally, the funding will support the company's goal of growing its team.
About RunPod
Founded by Zhen Lu and Pardeep Arora, RunPod is a globally distributed GPU cloud platform. that empowers developers to deploy custom full-stack AI applications simply, globally, and at scale. RunPod offers two core products: GPU Cloud and Serverless. These products enable developers to easily spin up on-demand GPU instances and create autoscaling API endpoints for scaling inference on AI models in production. RunPod is committed to making cloud computing accessible and affordable without compromising features, usability, or experience. It strives to empower individuals and enterprises with cutting-edge technology, enabling them to unlock the potential of AI and cloud computing.
Funding Details
Company: RunPod, Inc.
Raised: $20.0M
Round: Seed Round
Funding Month: May 2024
Lead Investors: Intel Capital, Dell Technologies Capital
Additional Investors: Julien Chaummond, Nat Friedman, Adam Lewis
Company Website: https://www.runpod.io/
Software Category: Dev Platform
Source: https://www.intelcapital.com/runpod-raises-20m-in-seed-funding-co-led-by-intel-capital-and-dell-technologies-capital/