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Grid.Ai Rebrands As Lightning Ai, Raises $40M To Expand Its Ai Dev Tools

Grid.Ai Rebrands As Lightning Ai, Raises $40M To Expand Its Ai Dev Tools

06/16/22, 1:00 PM
Money raised
$40 million
Lightning AI, the startup behind the open source PyTorch Lightning framework, today announced that it raised $40 million in a Series B round led by Coatue with participation from Index Ventures, Bain, and First Minute Capital. CEO William Falcon told TechCrunch that the new money will be used to expand Lightning AI’s 60-person team while supporting the community around PyTorch Lightening development.

Company Info

Company
Grid.Ai
Additional Info
He claims that Lightning AI’s revenue trajectory is on track to be cash-flow positive within the next 36 months; the company primarily makes money through its fully managed PyTorch Lightning product.