Saturday 15 June 2019

Draper Esprit invests further $12m in tech company Graphcore

Draper Esprit CEO Simon Cook
Draper Esprit CEO Simon Cook
Ellie Donnelly

Ellie Donnelly

Draper Esprit has invested a further $12m (€10.5m) in Graphcore as part of a $200m (€176m) series D funding round.

Other strategic investors in the funding round include Microsoft and BMW.

The latest investment values Graphcore, a UK-headquartered tech company, at $1.7bn.

Graphcore has built a completely new kind of processor and software specifically designed for machine intelligence.

It has generated its first revenues this year, just two years after the company was founded.

This latest funding is a further step towards fulfilling Graphcore's ambition to build a major European technology company, focused on the new and fast-growing machine intelligence market, a statement from Dublin-listed Draper Esprit said.

Simon Cook, CEO at Draper Esprit, commented: "We're thrilled to have been able to support Graphcore from seed stage through to this major new series D growth round."

"Graphcore is a stellar example of our evergreen model, providing capital throughout the growth cycle of some of the most exciting tech companies and helping them grow into world-leading global companies," he added.

Last week the venture capital company announced a €14m investment in Finalcad, an infrastructure and construction mobile software platform.

Online Editors

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