Together secures $102.5M funding to expand its generative AI training cloud.

Open-source AI company, Togeth, raises $5 million in funding to expand its cloud platform and develop open-source AI models. The startup aims to provide scalable computing at a lower cost, offering an alternative to dominant vendors like Google and Azure. Togeth also invests heavily in open-source AI research and has released various open-source models. The company is part of the growing trend of investment in the generative AI sector, which is attracting billions of dollars in funding.

Table of Contents: Together secures $102.5M funding to expand its generative AI training cloud.

Generating AI companies are raising huge amounts of capital to fuel their commercial case

Generative AI companies are experiencing a surge in capital funding, with Toget.ai, a startup that creates open-source generative AI, recently announcing the closing of a $30 million Series A funding round led by Kleiner Perkins, with participation from Nvidia, Emergence Capital, and previous investors. This round, which is five times the size of the company’s previous round, will be used to expand Toget.ai’s cloud platform and enable developers to build and deploy custom AI models without being locked into a single vendor. According to Toget.ai co-founder and CEO Vipul Ved Prakash, enterprises and individuals alike are looking to build generative AI strategies for their businesses, and Toget.ai’s platform offers a vendor-neutral approach that allows for greater freedom and choice.

An open-source ambitions-driven startup is creating an open-source generated AI model

An open-source ambitions-driven startup is creating an open-source generative AI model. The startup, called Togeth, has raised $11 million in Series A funding led by Kleiner Perkins, with participation from NVIDIA, Emergence Capital, and others. This brings the company’s total funding to date to $15 million. Togeth is building an open-source cloud platform that will allow developers to build, train, and deploy custom AI models. The company’s co-founder and CEO, Vipul Ved Prakash, says that enterprises are looking to build generative AI strategies but want to avoid lock-in to a single vendor. Togeth is building its platform on open-source technologies and will offer a range of services to help organizations incorporate AI applications into their business.

The company announced the closure of a $10 million series fund round led by Kleiner Perkins

To further its mission of democratizing access to cutting-edge generative AI, Togethe, a generative AI company, has announced a remarkable milestone: the successful completion of a $10 million Series A funding round. This round was led by the illustrious venture capital firm Kleiner Perkins, with participation from tech giants NVIDIA and Emerge Capital. Notably, this funding round represents a five-fold increase in the amount raised compared to Togethe’s previous round. With this significant capital infusion, Togethe is poised to accelerate its growth trajectory and make significant strides in realizing its ambitious vision.

The participation of Nvidia and Emergence Capital added a significant boost to the funding

The participation of technology giants like Nvidia and venture capital firm Emergence Capital added a significant boost to Togethe’s funding. Nvidia, a prominent player in the graphics processing unit (GPU) industry, brings expertise in hardware and AI acceleration, while Emergence Capital has a strong track record of investing in successful technology startups. This infusion of funding and strategic partnerships further validates Togethe’s mission to democratize generative AI and empower businesses across various sectors to leverage the transformative power of AI.

The funds will be utilized to expand the cloud platform and develop infrastructure for the AI model

To fuel its commercial ambitions, Togethe, an AI company, has secured a substantial capital injection of $40 million in a Series B funding round led by Kleiner Perkins. This funding round, which is five times the size of the company’s previous round, will primarily be directed towards expanding Togethe’s cloud platform. This platform allows users to build, train, and fine-tune their own custom AI models, offering a scalable computing infrastructure at a lower cost compared to dominant cloud vendors like Google Cloud, AWS, and Azure. Togethe’s blog post explains that this significant reduction in costs is achieved through various optimizations across the technology stack, such as a thousand GPUs located in multiple secure facilities, software-defined virtual scheduling, and model optimization. This optimization significantly brings down operational costs. Currently, Togethe operates its cloud across data centers in the US and EU, including partnerships with server operators like Crusoe Cloud and Vultr, delivering an aggregate of around 1 Exaflop of compute power. Additionally, Togethe leverages its API services to provide access to various models.

The co-founder and CEO, Vipul Ved Prakash, aims to build a generation AI strategy that avoids vendor lock-in

To achieve this vision, Togethe’s cloud platform provides a scalable, cost-effective alternative to dominant vendors like Google Cloud, AWS, and Azure. As explained in a blog post, Togethe’s platform delivers significant cost reductions for inference workloads, especially for large models. By optimizing the stack, leveraging thousands of GPUs, and utilizing multiple secure facilities, Togethe claims to offer significant operational cost savings. Currently, Togethe operates in multiple data centers across the US and EU, including partnerships with server infrastructure providers like Crusoe Cloud and Vultr. This allows Togethe to deliver around an exaflop of compute power in total, scaling clusters with thousands of GPUs, including custom GPUs from Cerebras, Graphcore, and NVIDIA, as well as leveraging Togethe’s API services, models, and software.

The company believes that an open-source AI platform will have long-term impacts on human society

The company firmly believes that an open-source AI platform will have long-term, far-reaching impacts on human society. They are committed to developing their open-source generative AI platform to provide a strong foundation for various applications, making generative models more accessible and powerful. Their belief in the transformative potential of open-source AI aligns with the growing recognition in the industry that open models are increasingly important for fostering innovation and ensuring freedom of choice.

Togeth is collaborating with other cloud providers to offer scalable computing at lower prices compared to dominant vendors like Google Cloud and Azure

Togeth is collaborating with other cloud providers, including Vultr and Crusoe Cloud, to offer scalable computing at prices significantly lower than dominant vendors like Google Cloud and Azure. This collaboration enables Togeth to provide a cost-effective solution for running and training AI models, making it more accessible for businesses of all sizes. Togeth’s cloud platform offers optimized stacks of thousands of GPUs located in multiple secure facilities, allowing for significant cost optimization. The company currently operates cloud services spanning multiple data centers in the US and EU, delivering approximately one exaflop of computing power. Additionally, Togeth offers custom model consulting services, allowing customers to bring their own data to Togeth’s cloud platform for model design, building, testing, and deployment.