AI Startup Etched Raises $700M in Funding Round

Etched, a San Jose, CA-based provider of inference cluster solutions, has raised $700 million in a financing Round led by Jane Street, at a $21 billion valuation.

The round also saw participation from Kleiner Perkins, Sequoia, Andreessen Horowitz, Tiger Global, Bain Capital Ventures, Neo, Primary, Stripes, Positive Sum, and Blackstone. The round brought the total amount to $1.9B.

The company plans to use the new capital to scale production and meet demand from customers deploying large-scale AI inference infrastructure.

Funding Snapshot

About Etched

Founded in 2022 by Gavin Uberti, Robert Wachen, Etched develops frontier inference clusters designed to make AI inference faster, more cost-efficient, and more scalable.

The company uses deep hardware and software co-design to build rack-scale systems focused on high throughput and low latency. Its infrastructure is designed to support increasingly large AI models and emerging architectures.

Read More:California-Based Velaura AI Raises $110M in Series A Funding

Etched achieved first-pass silicon success in less than three years after its seed funding. The company emerged from stealth in June with more than 400 employees and a functioning chip and has since delivered its first racks to customers.

Core offerings include:

• AI inference clusters
• Rack-scale computing systems
• Specialized AI hardware
• High-throughput inference infrastructure
• Advanced memory systems

Core Technologies / Products / Services