Overview
London-based startup Olix has secured $220 million in funding, raising its valuation to over $1 billion. The funding round, led by Hummingbird Ventures, brings Olix's total funding to approximately $250 million since its launch in 2024. Olix is developing a new AI accelerator, the Optical Tensor Processing Unit (OTPU), which aims to improve efficiency and reduce costs for inference tasks compared to traditional GPU architectures. The company plans to expand its workforce and ship its first products by 2027.
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Investors: Hummingbird Ventures
London-based startup Olix has secured $220 million in funding, raising its valuation to over $1 billion. The funding round, led by Hummingbird Ventures, brings Olix's total funding to approximately $250 million since its launch in 2024. Olix is developing a new AI accelerator, the Optical Tensor Processing Unit (OTPU), which aims to improve efficiency and reduce costs for inference tasks compared to traditional GPU architectures. The company plans to expand its workforce and ship its first products by 2027.