We’ve raised $100M to fix AI infrastructure for the world's developers

August 24, 2023

Modular Team

We are excited to announce that we have raised $100 million in new funding, led by General Catalyst and filled by existing investors GV (Google Ventures), SV Angel, Greylock, and Factory. This second round of funding follows our first $30 million round from last year and will enable us to supercharge our vision for the future of AI infrastructure for the world's developers. A special thank you to everyone who has helped us get to this point, including our incredible world-class team, our dedicated design partners, and our vibrant developer community and enterprise customers who believe in a better future of AI developer infrastructure.

Deep Nishar, Managing Director at General Catalyst, is beyond excited:

"Our conviction in Modular stems from the team's impressive expertise, particularly the co-founders' pivotal role in shaping the compilation landscape over the past two decades and fueling this new wave of AI through their work on TensorFlow. We believe in their ability to create the AI development platform of the future—one that (finally) allows technologists to fully realize the potential of their infrastructure while delivering a developer-friendly experience. The team's commitment to tackling complex challenges from a technological and societal perspective aligns with our Responsible Innovation values, and we're elated to support their efforts.”

A better AI-powered world for everyone

Modular’s vision is to allow AI technology to be used by anyone, anywhere. Our next-generation AI developer platform enables our customers and the world's developers to defragment their AI technology stacks, pushing more innovations into production faster and realizing more value from their investment in AI. Our products and technologies improve the nature of AI programmability, usability, scalability, compute efficiency, and hardware utilization. And our infrastructure seamlessly integrates into our customers' environments with minimal migration cost, natively supporting multiple clouds, multiple hardware accelerators, and multiple AI frameworks out of the box. We are attacking the complexity that slows AI development today by solving the fragmentation issues that plague the AI stack, starting with where AI software meets AI hardware.

The Modular AI Engine and Mojo 🔥

In the four months since our product keynote, the Modular community has grown to more than 120K+ developers (including tens of thousands of enterprises) who are excited to utilize our AI infrastructure stack. We have built and delivered the world's fastest unified AI engine that provides full compatibility with major AI frameworks – such as TensorFlow and PyTorch – and delivers unparalleled performance and cost savings on today’s CPUs, with support for GPUs coming in the Fall. We also built Mojo 🔥, a programming language for all AI developers that is 35,000x faster than Python. Mojo combines the usability of Python and the performance of C, bringing programmability back to AI and providing a common interface for the AI hardware landscape. And together, we expect them to unlock the next wave of AI innovations.

Mojo 🔥: coming soon to a computer near you!

We are also excited to announce the next major step forward for Mojo – the ability to download Mojo and a whole developer toolset locally to your desktop machine. The ability to run Mojo locally is the most requested feature from Mojo developers so far and will lead to increased innovation and collaboration in the Mojo developer ecosystem. We are shipping a preview of the Mojo SDK to hundreds of early adopters today, and we will release it generally to everyone in early September. Sign up to download.

Looking ahead, we are committed to releasing the Mojo standard library in open source and accepting contributions before the end of the year. Sign up to our Discord, and join our GitHub community to become a Mojician 🔥.

The future of AI is bright

We founded Modular with a vision to recreate AI infrastructure for the world, with a hope that it acts as a catalyst to unlock more AI developers, more innovation, and ultimately better AI products for everyone. This is a huge and important mission, and now we have incredible resources to work towards that. We ask that you join us, use our infrastructure, and help create an incredible future with AI. Let’s change the world together!

Modular Team