Oriole Networks, a London, UK-based AI optimization technology developer, has secured an additional $22 million in funding.
Investors
The round was led by Plural, with participation from existing investors, including UCL Technology Fund, XTX Ventures, Clean Growth Fund, and Dorilton Ventures. This latest funding brings Oriole's total capital raised this year to $35 million.
Plural is an early-stage investment fund that backs the most ambitious founders on a mission to change the world through technology. Based in Tallinn, Estonia, and London, UK, Plural aims to have a GDP-level impact on Europe, address systemic risks, and reduce the opportunity gap worldwide through the companies it supports.
Oriole Networks Use of Funds
The company will use the funding to expand its team and accelerate product development. The investment will also support partnerships with high-volume suppliers, with plans to deliver early-stage products by 2025.
About Oriole Networks
Founded by Professors George Zervas and Alessandro Ottino, and Joshua Benjamin, and led by CEO James Regan, Oriole Networks has developed an artificial intelligence (AI) optimization technology designed to enhance the efficiency of machine learning processes. The company focuses on leveraging photonics—technology that uses light—to improve the efficiency and performance of artificial intelligence systems, particularly in data centers. Oriole Networks has created a unique method for connecting multiple AI chips using light, resulting in what they term a "super-brain."
Funding Details
Company: Oriole Networks
Raised: $22.0M
Round: Unknown
Funding Date: October 2024
Lead Investor: Plural
Additional Investors: UCL Technology Fund, XTX Ventures, Clean Growth Fund, Dorilton Ventures
Company Website: https://www.oriolenetworks.com/
Software Category: AI Optimization
Source: https://siliconcanals.com/oriole-networks-secures-e20-2m/