Rain AI Raises $8.1M Series A Extension for Advanced AI Chip Development
Rain AI has been at the forefront of AI hardware development.
Company Name: Rain AI
Location: San Francisco, CA
Sector: Technology, Hardware, Artificial Intelligence
Funding Details: Raised $8.1M in a Series A Extension round. The investment was made by Epic Venture Partners.
Purpose of Investment: To further develop and bring to market its proprietary in-memory compute technology, enhancing energy efficiency in AI hardware.
Leadership: Led by CEO William Passo.
Product: Rain AI is pioneering the development of energy-efficient AI chips using in-memory compute technology. This innovation allows advanced AI models to be run locally on a variety of devices, including drones, VR goggles, smartphones, robotics, and wearables.
About Company: Established in 2017 and a Y-Combinator alum from 2018, Rain AI has been at the forefront of AI hardware development. After a $5M seed round led by notable figures such as Sam Altman and a $25M Series A round, the company plans to launch its first customer-ready chip in 2025.