Inferact, a venture capital-backed startup, has successfully raised $150 million in its latest seed funding round, significantly boosting its valuation to $800 million. The deal was spearheaded by prolific venture capital firm Andreessen Horowitz. This achievement proves the success of their open-source company, launched by the minds behind popular open-source inference project vLLM.
This latest funding round is a monumental step for Inferact. It’s a huge jump from its last valuation of $1.1 billion, announced less than five months ago. Investors are pouring unprecedented money into the artificial intelligence sector, spurring record-breaking valuation growth. This increase further demonstrates the need and potential for Inferact in the market.
Inferact’s new valuation arrives in a booming environment where other companies are similarly seeing massive amounts of capital pouring in. In October, Fireworks AI raised $250 million, giving the company a lofty valuation of $4 billion. At the same time, Baseten announced a $300 million raise with much fanfare, raising its valuation to $5 billion. Baseten’s last valuation was $2.1 billion, achieved only last month in September.
Marina Temkin, a VC and AR/VR startups reporter at TechCrunch, said that survival of the fittest is now the name of the game in a cutthroat funding landscape. All investors want to find the best startups with the most potential to catch fire, especially right now in the AI space.
Erik Bernhardsson, who co-founded Modal in 2021, has been instrumental in steering the relatively new company toward groundbreaking solutions. Bernhardsson has more than 15 years of experience building and leading data teams. Having worked alongside the likes of Spotify and Better.com, he’s brought a wealth of experience to the inner workings of Inferact. Modal has received impressive support from follow-on investors including Lux Capital and Redpoint Ventures. This support enhances its credibility in the global tech ecosystem.
All this new funding is going to help Inferact take its platform to the next level and become a dominant player in its market. The need for AI-driven solutions has never been greater. Now, Inferact is poised to capture the new opportunities on the horizon for this booming industry.