BlockBeats News, August 19th, AI chip design company Velaura AI announced the completion of a $110 million Series A funding round, with a valuation of over $1 billion. The round was led by Seligman Ventures, with new investor Capricorn Investment Group participating, and existing shareholders Samsung Catalyst Fund, StepStone Group, and Maverick Silicon following on.

Velaura AI focuses on developing low-power chips and software technology, primarily serving the data center and physical AI fields (including robotics and autonomous driving systems). The company stated that the funds will be used to accelerate AI product development and deployment, as well as expand the engineering and customer teams. Earlier this year, the company launched its in-house chip design platform, Titan Core, aimed at improving the energy efficiency and power performance of data center workloads.

It is reported that Velaura has engaged with three of the world's top four cloud service providers for potential customer collaborations (specific names undisclosed), and its technology has been deployed in over 30 million chips. The company adopts a business model similar to Arm's early chip licensing model, with upfront licensing fees and revenue sharing based on customer energy savings.