Funding round
Tenstorrent Series B
Tenstorrent, which works in AI compute hardware manufacturing in Santa Clara, raised $21M in a Series B round announced on 23 Jan 2019, led by EPIQ Capital Group. 5 firms took part. It is Tenstorrent's second venture round on record; the one before was a Series A in Feb 2018.
$21M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Tenstorrent did not disclose a valuation in this round. It came 11 months after Tenstorrent's Series A. It is under 1% of the $2.51B Tenstorrent has raised in the venture rounds on record. Tenstorrent raised again 28 months later: a Growth round of $200M in May 2021, at $1.00B post-money.
Tenstorrent's funding rounds
Tenstorrent has 6 venture rounds on record. This one is highlighted.
- Series A 8 Feb 2018 $500K
- Series B this round 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
Investors
Who put money in
EPIQ Capital Group led the round with 4 other firms.
Lead investor
- EPIQ Capital Group new investor
Also in the round
- Eclipse backs 79 venture-backed companies new investor
- backs 56 venture-backed companies new investor
- Menlo Ventures backs 215 venture-backed companies new investor
- Norwest backs 215 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to sales and marketing and scaling operations.
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
The closest in time, other companies' Series B rounds in Device Manufacturing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Device Manufacturing | 17 Apr 2019 | $15M | not disclosed | Spark Capital |
| Device Manufacturing | 2 May 2019 | $10M | not disclosed | The Westly Group |
| Device Manufacturing | 24 Jan 2018 | $30M | not disclosed | Ibex Ventures and Ibex Investors |
Questions
Frequently asked
How much did Tenstorrent raise in its Series B round?
Tenstorrent raised $21M in its Series B round, announced in Jan 2019.
Who led Tenstorrent's Series B round?
EPIQ Capital Group led it, with Eclipse, Real Ventures, Menlo Ventures and Norwest.
What was Tenstorrent's valuation at the Series B round?
It was not disclosed.
Did Tenstorrent raise again after this round?
Yes: a Growth round in May 2021 of $200M at $1.00B post-money.