PaperSpace Secures $13M Investment

PaperScape, want to help the software engineers to build up the AI and Machine Learning applications with the help of a platform which is powered by a software/hardware, GPlus and some of the other powerful chips. Today in a report they have announced, a funding round of series A with $13 million.

The investors include the Battery ventures, SineWave Ventures, Sorenson ventures, and the Intel capital. Some of the existing capital investors also participated in the round. This funding makes the total startup to be valued at $19 million.

“Major silicon, systems and Web-scale computing providers need a cloud-based solution and software ‘glue’ to make deep learning truly consumable by data-driven organizations, and Paperspace is helping to provide that,” Thakker, a general partner with Battery Ventures said in a statement.

PaperSpace provides up with its own GPU powered servers but with respect to this, its CEO aid that they are competing with the other big cloud servers. There are going to offer more hardware solutions to its customers. In the previous year, the company launched a Gradient, which is a serverless tool to make it easier to manage and deploy both the Machine Learning and AI workloads.

 “We do a lot of GPU compute, but the big focus right now and really where the investors are buying into with this fundraiser, is the idea that we are in a really unique position to kind of build out a software layer and abstract a lot of that infrastructure away [for our customers],” Erb said in a report.

He also says that the funding is surely a validation of something which they had set out for work on when they started a company in the year 2014 and launched out the Y combinatory in the year 2015. After that, he had to explain clearly what a GPU was in his pitch desks. “It’s really a greenfield opportunity, and we want to be the go-to platform that you can start building out into the intelligent applications without thinking about infrastructure.” With $13 million in hand, it’s safe to say that they are on their way.

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