AI startup Blaize raises $106 million in funding

(Reuters) - AI computing firm Blaize said on Monday it has raised $106 million in funding, including from existing investors such as Mercedes-Benz and Temasek.

Other existing investors such as Bess Ventures, Franklin Templeton and Denso, besides new investors such as Rizvi Traverse, Ava Investors and BurTech LP also participated in the fundraising, the company said in a statement, without disclosing the details on its valuation.

The fundraise reflects the frenzy that had helped the AI sector attract a major share of venture capital money last year in a largely subdued environment. The launch of ChatGPT by OpenAI has generated interest in AI, with companies investing millions of dollars to cash in on the trend.

The El Dorado Hills, California-based company, which offers computing solutions in automotive, mobility, smart retail, security, industrial and metro market sectors, also said it had previously raised $224 million.

Blaize had said last December it would go public in a SPAC (special purpose acquisition company) deal with BurTech Acquisition.

(Reporting by Harshita Mary Varghese; Editing by Shilpi Majumdar)

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