AI compute startup Hyperbolic closes $30 million funding round led by Walden Catalyst

TechFlow reports that on October 28, according to Business Insider, AI compute infrastructure startup Hyperbolic closed a $30 million Series A-1 round led by Walden Catalyst, co-founded by Intel CEO Lip-Bu Tan and former Samsung president Young Sohn, with Dell Technologies Capital, General Catalyst and others participating.

Hyperbolic is focused on aggregating compute resources from hundreds of AI cloud providers. It has currently partnered with about 30 compute cloud providers, and the platform's connected annual compute capacity is about $200 million. The company has raised a cumulative $50 million and plans to reach $150 million in annual recurring revenue (ARR) by the end of this year.

Previously reported, Hyperbolic closed a $12 million Series A round led by Polychain Capital and Variant, with IOSG Ventures, Wintermute, GSR and others participating.

Source: TechFlow