d-Matrix valuation, funding and investors
d-Matrix works in AI compute platform manufacturing, based in Santa Clara, United States. Founded in 2019, it has about 325 employees.
- Last round
- Series C · $275M · Nov 2025
- Valuation at last round
- $2.00B
- Headcount
- 325 · growing
- Grade
- B
- Founded
- 2019
d-Matrix valuation today
VCMC values d-Matrix at $2.7B today, with a range of $1.7B to $3.2B and a grade of B. The valuation starts from its last funding round, a Series C round in Nov 2025.
Valuation by date (98 rows)
Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.
| Date | Valuation | Range | Predicted in 1 yr | Phase | Headcount | Trend | Grade | Winding-down probability |
|---|---|---|---|---|---|---|---|---|
| 1 Jan 2019 | $12.2M | $4.44M – $33.5M | $15.1M (+24%) | before first round | – | unknown | D | 0% |
| 1 Feb 2019 | $12.5M | $4.56M – $34.4M | $15.2M (+21%) | before first round | – | unknown | D | 0% |
| 1 Mar 2019 | $12.8M | $4.67M – $35.3M | $15.3M (+19%) | before first round | – | unknown | D | 0% |
| 1 Apr 2019 | $13.2M | $4.80M – $36.2M | $15.5M (+17%) | before first round | – | unknown | D | 0% |
| 1 May 2019 | $13.5M | $4.93M – $37.2M | $15.6M (+15%) | before first round | – | unknown | D | 0% |
| 1 Jun 2019 | $13.9M | $5.06M – $38.2M | $15.8M (+13%) | before first round | – | unknown | D | 0% |
| 1 Jul 2019 | $14.3M | $5.19M – $39.2M | $15.9M (+11%) | before first round | – | unknown | D | 0% |
| 1 Aug 2019 | $14.4M | $5.25M – $39.6M | $16.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 Sep 2019 | $14.5M | $5.29M – $39.9M | $16.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 Oct 2019 | $14.7M | $5.34M – $40.3M | $16.3M (+11%) | before first round | – | unknown | D | 0% |
| 1 Nov 2019 | $14.8M | $5.39M – $40.7M | $16.5M (+11%) | before first round | – | unknown | D | 0% |
| 1 Dec 2019 | $14.9M | $5.44M – $41.0M | $16.6M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jan 2020 | $15.1M | $5.49M – $41.4M | $16.8M (+11%) | before first round | – | unknown | D | 0% |
| 1 Feb 2020 | $15.2M | $5.54M – $41.8M | $16.9M (+11%) | before first round | – | unknown | D | 0% |
| 1 Mar 2020 | $15.3M | $5.59M – $42.1M | $17.1M (+11%) | before first round | – | unknown | D | 0% |
| 1 Apr 2020 | $15.5M | $5.64M – $42.5M | $17.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 May 2020 | $15.6M | $5.69M – $42.9M | $17.4M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jun 2020 | $15.8M | $5.74M – $43.3M | $17.6M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jul 2020 | $15.9M | $5.79M – $43.7M | $17.7M (+11%) | before first round | – | unknown | D | 0% |
| 1 Aug 2020 | $16.1M | $5.84M – $44.1M | $17.9M (+11%) | before first round | – | unknown | D | 0% |
| 1 Sep 2020 | $16.2M | $5.90M – $44.5M | $18.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 Oct 2020 | $16.3M | $5.95M – $44.9M | $18.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 Nov 2020 | $16.5M | $6.00M – $45.3M | $18.4M (+11%) | before first round | – | unknown | D | 0% |
| 1 Dec 2020 | $16.6M | $6.06M – $45.7M | $18.5M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jan 2021 | $16.8M | $6.11M – $46.1M | $18.7M (+11%) | before first round | – | unknown | D | 0% |
| 1 Feb 2021 | $16.9M | $6.17M – $46.5M | $18.8M (+11%) | before first round | – | unknown | D | 0% |
| 1 Mar 2021 | $17.1M | $6.22M – $46.9M | $19.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 Apr 2021 | $17.2M | $6.28M – $47.4M | $19.1M (+11%) | before first round | – | unknown | D | 0% |
| 1 May 2021 | $17.4M | $6.33M – $47.8M | $19.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jun 2021 | $17.6M | $6.39M – $48.2M | $19.4M (+10%) | before first round | – | unknown | D | 0% |
| 1 Jul 2021 | $17.7M | $6.45M – $48.6M | $19.5M (+10%) | before first round | – | unknown | D | 0% |
| 1 Aug 2021 | $17.9M | $6.51M – $49.1M | $19.7M (+10%) | before first round | – | unknown | D | 0% |
| 1 Sep 2021 | $18.0M | $6.57M – $49.5M | $19.8M (+10%) | before first round | – | unknown | D | 0% |
| 1 Oct 2021 | $18.2M | $6.62M – $50.0M | $20.0M (+10%) | before first round | – | unknown | D | 0% |
| 1 Nov 2021 | $18.4M | $6.68M – $50.4M | $20.1M (+10%) | before first round | – | unknown | D | 0% |
| 1 Dec 2021 | $18.5M | $6.74M – $50.9M | $20.3M (+9%) | before first round | – | unknown | D | 0% |
| 1 Jan 2022 | $18.7M | $6.81M – $51.4M | $20.4M (+9%) | before first round | – | unknown | D | 0% |
| 1 Feb 2022 | $18.8M | $6.86M – $51.7M | $20.6M (+9%) | before first round | – | unknown | D | 0% |
| 1 Mar 2022 | $19.0M | $6.90M – $52.1M | $20.7M (+9%) | before first round | – | unknown | D | 0% |
| 1 Apr 2022 | $244M | $161M – $670M | $440M (+80%) | after a round | – | unknown | C | 0% |
| 2 Apr 2022 | $245M | $161M – $670M | $440M (+80%) | after a round | – | unknown | C | 0% |
| 1 May 2022 | $257M | $161M – $670M | $440M (+72%) | after a round | – | unknown | C | 0% |
| 1 Jun 2022 | $270M | $161M – $670M | $440M (+63%) | after a round | – | unknown | C | 0% |
| 1 Jul 2022 | $283M | $161M – $670M | $440M (+55%) | after a round | – | unknown | C | 0% |
| 1 Aug 2022 | $297M | $161M – $670M | $440M (+48%) | after a round | – | unknown | C | 0% |
| 1 Sep 2022 | $313M | $161M – $670M | $440M (+41%) | after a round | – | unknown | C | 0% |
| 1 Oct 2022 | $328M | $161M – $670M | $440M (+34%) | after a round | – | unknown | C | 0% |
| 1 Nov 2022 | $345M | $161M – $670M | $440M (+28%) | after a round | – | unknown | C | 0% |
| 1 Dec 2022 | $362M | $161M – $670M | $440M (+22%) | after a round | – | unknown | C | 0% |
| 1 Jan 2023 | $381M | $161M – $670M | $440M (+16%) | after a round | – | unknown | C | 0% |
| 1 Feb 2023 | $400M | $161M – $670M | $440M (+10%) | after a round | 68 | unknown | C | 0% |
| 1 Mar 2023 | $418M | $161M – $670M | $440M (+5%) | after a round | 68 | unknown | C | 0% |
| 1 Apr 2023 | $440M | $161M – $670M | $440M (0%) | after a round | 68 | unknown | C | 0% |
| 1 May 2023 | $440M | $153M – $670M | $440M (0%) | after a round | 68 | unknown | C | 0% |
| 1 Jun 2023 | $440M | $145M – $670M | $440M (0%) | after a round | 73 | flat | C | 0% |
| 1 Jul 2023 | $440M | $138M – $670M | $440M (0%) | after a round | 73 | flat | C | 0% |
| 1 Aug 2023 | $440M | $131M – $670M | $440M (0%) | after a round | 73 | flat | C | 0% |
| 1 Sep 2023 | $440M | $125M – $670M | $440M (0%) | after a round | 73 | flat | C | 0% |
| 7 Sep 2023 | $676M | $476M – $1.4B | $1.0B (+50%) | after a round | 73 | flat | B | 0% |
| 1 Oct 2023 | $694M | $476M – $1.4B | $1.0B (+46%) | after a round | 73 | flat | B | 0% |
| 1 Nov 2023 | $719M | $476M – $1.4B | $1.0B (+41%) | after a round | 73 | flat | B | 0% |
| 1 Dec 2023 | $743M | $476M – $1.4B | $1.0B (+36%) | after a round | 73 | flat | B | 0% |
| 1 Jan 2024 | $769M | $476M – $1.4B | $1.0B (+32%) | after a round | 73 | flat | B | 0% |
| 1 Feb 2024 | $796M | $476M – $1.4B | $1.0B (+27%) | after a round | 73 | flat | B | 0% |
| 1 Mar 2024 | $822M | $476M – $1.4B | $1.0B (+23%) | after a round | 73 | flat | B | 0% |
| 1 Apr 2024 | $977M | $607M – $1.8B | $1.3B (+32%) | after a round | 220 | growing | B | 0% |
| 1 May 2024 | $1.0B | $607M – $1.8B | $1.3B (+25%) | after a round | 220 | growing | B | 0% |
| 1 Jun 2024 | $1.1B | $607M – $1.8B | $1.3B (+19%) | after a round | 220 | growing | B | 0% |
| 1 Jul 2024 | $1.1B | $607M – $1.8B | $1.3B (+12%) | after a round | 220 | growing | B | 0% |
| 1 Aug 2024 | $1.2B | $607M – $1.8B | $1.3B (+6%) | after a round | 220 | growing | B | 0% |
| 1 Sep 2024 | $1.3B | $594M – $1.8B | $1.3B (+1%) | after a round | 200 | growing | B | 0% |
| 1 Oct 2024 | $1.3B | $600M – $1.8B | $1.3B (0%) | after a round | 200 | growing | B | 0% |
| 1 Nov 2024 | $1.3B | $607M – $1.8B | $1.3B (0%) | after a round | 200 | growing | B | 0% |
| 1 Dec 2024 | $1.0B | $520M – $1.5B | $859M (-14%) | after a round | 200 | flat | B | 51% |
| 1 Jan 2025 | $993M | $496M – $1.5B | $848M (-15%) | after a round | 200 | flat | B | 51% |
| 1 Feb 2025 | $983M | $473M – $1.5B | $838M (-15%) | after a round | 200 | flat | B | 51% |
| 1 Mar 2025 | $975M | $453M – $1.5B | $828M (-15%) | after a round | 200 | flat | C | 51% |
| 1 Apr 2025 | $965M | $432M – $1.5B | $818M (-15%) | after a round | 200 | flat | C | 51% |
| 1 May 2025 | $957M | $412M – $1.6B | $808M (-16%) | after a round | 200 | flat | C | 51% |
| 1 Jun 2025 | $947M | $393M – $1.6B | $798M (-16%) | after a round | 200 | flat | C | 51% |
| 1 Jul 2025 | $939M | $375M – $1.6B | $789M (-16%) | after a round | 200 | flat | C | 51% |
| 1 Aug 2025 | $930M | $358M – $1.6B | $779M (-16%) | after a round | 200 | flat | C | 51% |
| 1 Sep 2025 | $979M | $355M – $1.7B | $829M (-15%) | after a round | 235 | flat | C | 47% |
| 1 Oct 2025 | $964M | $407M – $1.7B | $783M (-19%) | after a round | 235 | up | C | 43% |
| 1 Nov 2025 | $978M | $400M – $1.7B | $802M (-18%) | after a round | 235 | up | C | 39% |
| 13 Nov 2025 | $2.0B | $1.7B – $3.0B | $2.6B (+30%) | after a round | 237 | up | A | 0% |
| 1 Dec 2025 | $2.0B | $1.7B – $3.0B | $2.6B (+28%) | after a round | 237 | up | A | 0% |
| 1 Jan 2026 | $2.1B | $1.7B – $3.0B | $2.6B (+25%) | after a round | 237 | up | A | 0% |
| 1 Feb 2026 | $2.1B | $1.7B – $3.0B | $2.6B (+23%) | after a round | 237 | up | A | 0% |
| 1 Mar 2026 | $2.2B | $1.7B – $3.1B | $2.7B (+22%) | after a round | 265 | up | A | 0% |
| 1 Apr 2026 | $2.2B | $1.7B – $3.1B | $2.7B (+19%) | after a round | 265 | up | A | 0% |
| 1 May 2026 | $2.3B | $1.7B – $3.1B | $2.7B (+17%) | after a round | 265 | up | A | 0% |
| 1 Jun 2026 | $2.4B | $1.7B – $3.1B | $2.7B (+15%) | after a round | 283 | up | A | 0% |
| 1 Jul 2026 | $2.4B | $1.7B – $3.1B | $2.7B (+12%) | after a round | 283 | up | A | 0% |
| 1 Aug 2026 | $2.5B | $1.7B – $3.2B | $2.8B (+9%) | after a round | 308 | up | B | 0% |
| 1 Sep 2026 | $2.6B | $1.7B – $3.2B | $2.8B (+7%) | after a round | 308 | up | B | 0% |
| 1 Oct 2026 | $2.7B | $1.7B – $3.2B | $2.8B (+4%) | after a round | 325 | growing | B | 0% |
| 24 Oct 2026 | $2.7B | $1.7B – $3.2B | $2.8B (+2%) | after a round | 325 | growing | B | 0% |
Key facts about d-Matrix
- Founded
- 2019
- Headquarters
- Santa Clara, United States
- Employees
- about 325 +38% in a year
- Total raised
- $429M
- Funding rounds
- 3
- Last round
- Series C Nov 2025
d-Matrix was founded in 2019 by Sid Sheth and Sudeep Bhoja.
d-Matrix funding history
d-Matrix has 3 funding rounds on record, from Apr 2022 to Nov 2025, $429M in total. The latest disclosed valuation is $2.00B post-money (Series C, Nov 2025).
Series C 12 Nov 2025
Led by Bullhound Capital, Triatomic Capital, Temasek; with Qatar Investment Authority, EDBI, M12, Nautilus Venture Partners, Industry Ventures, Mirae Asset Venture Investments.
Sources: d-matrix.ai, prnewswire.com
$275M
$2.00B post-money
Series B 6 Sep 2023
Led by Temasek; with Playground, M12, Samsung Venture Investment, Palo Alto Networks, Industry Ventures, Amino Capital, Innovacom, Triatomic Capital, Tsvc Capital.
Sources: d-matrix.ai, m12.vc, proactiveinvestors.co.uk
$110M
Series A 1 Apr 2022
Led by Playground, M12, SK Hynix; with Nautilus Venture Partners, Marvell Technology, Entrada Ventures.
Sources: finsmes.com
$44M
d-Matrix investors
18 investors have backed d-Matrix; M12, Playground and Temasek and 3 more led at least one round.
- M12 lead, 3 rounds
- Temasek lead, 2 rounds
- Triatomic Capital lead, 2 rounds
- SK Hynix lead
- EDBI
- Entrada Ventures
- Marvell Technology
- Mirae Asset Venture Investments
- Palo Alto Networks
- Qatar Investment Authority
- Samsung Venture Investment
- Tsvc Capital
What d-Matrix does
d-Matrix works in tech companies, with 15 recorded offerings and customers in artificial intelligence and datacenter.
d-Matrix Corporation is an American technology company that develops AI compute solutions, including digital in-memory compute architectures, I/O accelerators, and rack-scale AI inference platforms. The company provides software tools for model deployment, compression, optimization, and runtime management, and offers a software stack that integrates with open frameworks. d-Matrix serves datacenters, enterprises, and organizations, supporting large-scale AI applications with a focus on energy efficiency and scalability.
Description from Veridion's company data.
Products and services
- AI Compute Platform Manufacturing
- Generative AI Inference Solutions
- Digital-In-Memory Compute Architecture Development
- AI I/O Accelerator Manufacturing
- Rack-Scale AI Infrastructure Manufacturing
- Model Deployment Software Development
- Model Compression Software Development
- Model Optimization Software Development
- Inference Engine Software Development
- Host Runtime Software Development
- Chip Runtime Software Development
- AI Model Management Tools Development
- AI Infrastructure Integration Services
- Energy-Efficient AI Hardware Solutions
- Scalable AI Computing Solutions
Markets
- Artificial Intelligence
- Datacenter
Technology
- Digital-In-Memory Compute Architecture
- Block Floating Point Numerical Formats
- AI Compute Solutions for Ultra-Low Latency Batched Inference
- I/O Accelerator for AI Inference
Business model
- Business-to-Business
- Software-as-a-Service
- Enterprise
Industry codes (NAICS)
- 334111 Electronic Computer Manufacturing 50% match
- 541511 Custom Computer Programming Services 30% match
- 423430 Computer and Computer Peripheral Equipment and Software Merchant Wholesalers 20% match
Questions about d-Matrix
What is d-Matrix worth?
Valuation $2.7B (range $1.7B to $3.2B), as of 24 Oct 2026. The last disclosed valuation was $2.00B (Series C, Nov 2025).
Has d-Matrix raised money?
d-Matrix has 3 funding rounds on record, from Apr 2022 to Nov 2025, $429M in total. The latest disclosed valuation is $2.00B post-money (Series C, Nov 2025).
Who has invested in d-Matrix?
M12, Playground, Temasek, Triatomic Capital, Bullhound Capital and SK Hynix, and 12 more. Lead investors include M12, Playground, Temasek and Triatomic Capital.
How many people work at d-Matrix?
About 325, up 38% over the last year. Headcount grew from 68 in Jan 2023 to 325 in Sep 2026.
What does d-Matrix do?
d-Matrix works in tech companies, with 15 recorded offerings and customers in artificial intelligence and datacenter. Its main offerings are AI compute platform manufacturing, generative AI inference solutions and Digital-In-Memory compute architecture development.
When was d-Matrix founded, and where is it based?
d-Matrix was founded in 2019 and is based in Santa Clara, United States. It has about 325 employees, up 38% over the last year.