Redwood City-based, Fireworks AI, a generative AI startup raised $52 million led by Sequoia Capital in Series B at a $552 million valuation.
NVIDIA, MongoDB, and AMD actively backed the round the total funds brought in by the Fireworks AI is $77 million. Ex-investors such as Databricks Ventures, Benchmark, Frank Slootman (ex-CEO Snowflake), Howie Liu (CEO Airtable), Sheryl Sandberg (ex-CEO Meta), Alexandr Wang (CEO Scale AI), and various executives from Confluent, Meta, LinkedIn, & OnePassword joined the round.
Fireworks AI Raised $52M Series
CEO of Fireworks AI, Lin Qiao said that the funds raised will enable Fireworks AI to expand its team, platform development, and complete the production of various AI prototypes and launch them at the earliest.
Fireworks AI is an advanced GenAI platform that enables enterprises to build complex AI systems using human-curated data. Its ultra-fast LoRA (Low-rank adaptation) allows companies to change and customize AI models in minutes and deploy them earliest.
Moreover, Fireworks AI has an active client base and serves over 100 state-of-the-art models effectively. Many developers and digital giants use Fireworks AI for its effective and affordable models.
Also Read: The Phone Won’t Turn On: 7 Reasons and Solutions