Funding round
Tenstorrent Series A
Tenstorrent, which works in AI compute hardware manufacturing in Santa Clara, raised $500K in a Series A round announced on 8 Feb 2018. It is Tenstorrent's first venture round on record.
$500K
Amount raised
Not disclosed
Post-money valuation
Valuation
What this round says about the price
Tenstorrent did not disclose a valuation in this round. It is Tenstorrent's first venture round on record, 2 years after it was founded in 2016. It is under 1% of the $2.51B Tenstorrent has raised in the venture rounds on record. Tenstorrent raised again 11 months later: a Series B round of $21M in Jan 2019. Its next priced round, a Growth in May 2021, valued it at $1.00B.
Tenstorrent's funding rounds
Tenstorrent has 6 venture rounds on record. This one is highlighted.
- Series A this round 8 Feb 2018 $500K
- Series B 23 Jan 2019, led by EPIQ Capital Group $21M
- Growth 20 May 2021, led by Fidelity Management and Research Company $200M$1.00B post-money
- Series C 2 Aug 2023, led by Hyundai Motor Group and Samsung Catalyst Fund $100M
- Series D 2 Dec 2024, led by Samsung Securities and AFW Partners $693M$2.70B post-money
- Series E 19 Oct 2026, led by Trace Capital and Innovation X $1.50B$6.20B post-money
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
6 Series A rounds in Device Manufacturing within a year either side disclosed an amount; the median was $10M, and this round was 5% of the median. The closest in time, other companies' Series A rounds in Device Manufacturing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Device Manufacturing | 1 Nov 2017 | $5.0M | not disclosed | not named |
| Device Manufacturing | 10 Oct 2017 | $11M | not disclosed | True Ventures |
| Device Manufacturing | 25 Oct 2017 | $10M | not disclosed | Almaz Capital and The Aventures Fund |
| Device Manufacturing | 20 Sep 2017 | $54M | not disclosed | not named |
| Device Manufacturing | 13 Dec 2018 | $4.8M | not disclosed | not named |
| Device Manufacturing | 1 Feb 2017 | $10M | not disclosed | not named |
Questions
Frequently asked
How much did Tenstorrent raise in its Series A round?
Tenstorrent raised $500K in its Series A round, announced in Feb 2018.
What was Tenstorrent's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Device Manufacturing?
6 Series A rounds in Device Manufacturing within a year either side disclosed an amount; the median was $10M, and this round was 5% of the median.
Did Tenstorrent raise again after this round?
Yes: a Series B round in Jan 2019 of $21M.