Etched

Portfolio company Etched doubled its valuation to $21B in a subsequent funding round roughly a month after its Series C.

Kleiner Perkins (Mamoon Hamid) announced investment in Etched, an AI inference chip company building purpose-built hardware for transformer models. Etched has working silicon, $1B+ in signed customer contracts, and Jane Street as first production customer.

WSJ profiled portfolio company Etched, now valued at $21B, for aggressively hiring Nvidia talent.

Etched raised $700M at a $21B valuation and delivered its first inference rack to Jane Street, which led the round.

Primary portfolio company Etched announced $300M Series C at $10.3B valuation led by Sequoia. Primary invested in every round from seed onward. Etched builds frontier inference clusters with first working silicon post-ChatGPT.