doubleAI Completes $200M Series A at Over $1B Valuation

AI startup doubleAI announced the completion of a $200 million Series A funding round, co-led by Lightspeed Venture Partners and Bessemer Venture Partners, with participation from NVIDIA, Dell Technologies Capital, Greenfield, Pitango and BRM. According to CTech, the round values doubleAI at more than $1 billion. The company was founded by former Mobileye CEO Amnon Shashua and currently has about 40 employees. doubleAI's "code execution model" Maxwell can optimize software execution efficiency on CPUs and GPUs without modifying source code; the company says every rewrite is mathematically proven correct, and it plans to sell the model to enterprises looking to reduce AI compute costs.