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.

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.

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

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

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