AlphaSense and Cerebras join forces to power the future of AI market intelligence with 10x faster insights
AlphaSense, the leading AI-powered market intelligence and search platform, and Cerebras Systems, the pioneer in accelerating generative AI, today announced a strategic partnership to revolutionize how enterprises access, analyze, and act on critical market data. By integrating Cerebras' cutting-edge AI Inference capabilities, AlphaSense has significantly enhanced the speed and precision of its AI-driven research tools – delivering intelligent insights up to 10x faster and enabling sharper decision-making for business and financial professionals worldwide.
With the growing reliance on AI-driven research, speed and accuracy have become imperative for enterprises seeking to stay ahead of market trends, investment opportunities, and competitive shifts. Through this partnership, AlphaSense has successfully integrated Cerebras Inference, leveraging Cerebras' WSE-3 (Wafer-Scale Engine) and Llama models to optimize multi-turn AI-driven financial analysis. As a result, AlphaSense users can perform sophisticated multi-turn queries – delivering results in seconds, a fraction over previous speeds.
Powering AlphaSense with Wafer Scale AI
At the core of this collaboration is Cerebras' Wafer-Scale Engine (WSE-3), one of the world's fastest AI processors, designed to run the latest AI models 10x faster than the latest GPUs. Cerebras Inference enables AlphaSense to reduce latency, increase throughput, and push the boundaries of AI-driven market intelligence. With this advanced infrastructure, AlphaSense supports next-generation deep research models, making financial and business insights more accessible, actionable, and real-time.
"AI is revolutionizing market intelligence, but speed to key insights is imperative to getting in-depth and accurate research actionable," said Raj Neervannan, Chief Technology Officer and Co-Founder of AlphaSense. "By partnering with Cerebras, we are integrating cutting-edge AI infrastructure with our intuitive, trustable generative AI product with exhaustive and unique content sets that allows us to deliver unprecedented speed and the most accurate and relevant insights available – helping our customers make smarter decisions with confidence."
Transforming AI for Enterprises, Financial Services, and Beyond
This partnership marks a major leap forward for financial institutions, Fortune 500 companies, and enterprises relying on AI-driven research and analytics. By harnessing Cerebras' AI acceleration, AlphaSense is setting a new standard in financial services, market intelligence, and enterprise decision-making.
"We are thrilled to collaborate with AlphaSense to deliver unprecedented AI acceleration for market intelligence," said Andrew Feldman, CEO and Co-Founder of Cerebras. "Through this partnership, we are redefining financial services analytics—enabling organizations to access real-time, high-precision insights at a speed never seen before."
As AI continues to reshape the way businesses operate, this partnership represents a major leap forward in the evolution of market intelligence. By combining AlphaSense's industry-leading AI search platform with Cerebras' revolutionary AI computing power, the two companies are setting a new standard for speed, precision, and scale in AI-driven insights.
Cerebras Inference runs exclusively in US-based data centers, offering best-in-class data privacy, zero data retention, and strict compliance with US laws. This ensures AlphaSense customers can confidently leverage advanced AI reasoning capabilities without compromising on security or privacy.
With this collaboration, AlphaSense customers gain a transformative edge – equipped with the most advanced AI technology to extract high-value insights from vast amounts of unstructured data, make faster and more informed decisions, and stay ahead in an increasingly competitive business landscape.
Apptronik Robotics and Jabil to scale production of Apollo humanoid robots and deploy in manufacturing operations
Jabil’s world-class manufacturing expertise, Apollo’s mass manufacturable design, and the promise of robots building robots will enable the flywheel needed for the mass adoption of humanoid robots.
Apptronik, the AI-powered humanoid robotics company, and Jabil (NYSE: JBL), a global leader in engineering, manufacturing, and supply chain solutions, have announced a pilot and strategic collaboration to build Apollo humanoid robots and integrate them into specific Jabil manufacturing operations. This includes the production lines that will build Apollo humanoid robots, paving the way for Apollo to build Apollo.
As part of the pilot program, newly manufactured Apollo units will leverage Jabil’s factory environment for real-world validation testing. The robots will be used to complete an array of simple, repetitive intralogistics and manufacturing tasks, including inspection, sorting, kitting, lineside delivery, fixture placement, and sub-assembly before being deployed to Apptronik customer sites. When humanoids are introduced to Jabil’s manufacturing lines, they are to augment and support the existing workforce; people who may have previously done those repetitive tasks now can dedicate their time to more creative, thought-intensive projects that shape and improve the future of Jabil’s operations.
Jabil supports customers in the development of market-leading advanced robotics and warehouse automation solutions, pushing the boundaries of technology. By building and evaluating their function within a best-in-class production environment, Apptronik and Jabil will gather valuable real-world use cases for automation in manufacturing and optimizing Apollo’s AI models.
As the worldwide manufacturing partner for Apollo humanoid robots, Jabil can provide Apptronik the flexibility and agility to scale production around the world as needed. Jabil’s expertise in developing and manufacturing robots will allow Apptronik to unify its supply chain and gain access to Jabil’s advanced manufacturing capabilities around the globe. This collaboration will benefit Apptronik customers through world-class quality, scalability, inventory management, turn-key procurement, and rapid production while providing Jabil the opportunity to test new automation solutions in support of safer operations, greater efficiency, and accelerated time-to-market.
Prioritizing Humanoid Scalability
To fulfill customer demand for its humanoid robots at the price point necessary for mass adoption, Apptronik’s world-class design includes a heritage of unique actuators, or motors, that unlock affordability and simplify maintenance. Its latest generation of actuators requires a significantly reduced number of components, manufacturing time, and cost compared to previous generations. With a cost-effective, simplified bill of materials (BOM) and ability to mass produce units at scale with Jabil, Apptronik aims to make general-purpose humanoids more affordable to expand into new markets and roles, such as front-of-house retail, elder care, and eventually home use.
“Humanoid robots have the potential to revolutionize the way we live and work, but for that to become a reality, we need to be able to build them rapidly at scale, at the right price point, and in geographies where our customers are located,” said Jeff Cardenas, co-founder and CEO of Apptronik. “Our partnership with Jabil, along with our unique design for manufacturability and ability to have Apollo humanoid robots handling material movement and assembly tasks in the factory, are critical components needed to create a flywheel effect that could make humanoid robots ubiquitous.”
“We’ve been committed to advanced automation and robotics across our operations, so piloting Apollo is a logical next step for our division and for Jabil in the long term,” said Rafael Renno, Senior Vice President of Global Business Units at Jabil. “Not only will we get a first-hand look at the impact that general-purpose robots can have as we test Apollo in our operations, but as we begin producing Apollo units, we can play a role in defining the future of manufacturing. These new technologies and applications further enhance Jabil's best-in-class capabilities to solve complex challenges and manufacture at scale for our customers.”
Newly manufactured Apollo humanoid robots will leverage Jabil’s factory environment for real-world validation testing, completing an array of simple, repetitive manufacturing tasks before being deployed to Apptronik customer sites.
About Apptronik:
Apptronik is a human-centered robotics company developing AI-powered humanoid robots. Our goal is to create human helpers to support humanity in every facet of life. Our robot, Apollo, is designed to collaborate thoughtfully with humans—initially in critical industries such as manufacturing and logistics, with future applications in healthcare, the home, and beyond. Apollo is the culmination of nearly a decade of development, drawing on Apptronik’s extensive work on 15 previous robots, including NASA’s Valkyrie robot. Apptronik started out of the Human Centered Robotics Lab at the University of Texas at Austin and has over 150 employees. Learn more at https://apptronik.com.
About Jabil:
At Jabil (NYSE: JBL), we are proud to be a trusted partner for the world's top brands, offering comprehensive engineering, manufacturing, and supply chain solutions. With over 50 years of experience across industries and a vast network of over 100 sites worldwide, Jabil combines global reach with local expertise to deliver both scalable and customized solutions. Our commitment extends beyond business success as we strive to build sustainable processes that minimize environmental impact and foster vibrant and diverse communities around the globe. Discover more at www.jabil.com.
Investor Contact
Adam Berry
Senior Vice President, Investor Relations and Communications
adam_berry@jabil.com
Media Contact
Timur Aydin
Senior Director, Enterprise Marketing and Communications
publicrelations@jabil.com
Liz Clinkenbeard
Head of Communications
press@apptronik.com
LATAM fintech leader Kapital embraces full transparency
We applaud Arjun Sethi, Chairman at Tribe Capital & Co-CEO at Kraken, and the team at Kapital on a bold move that puts them in a category of their own. Embracing transparency as a private startup as a global fintech leader, and demonstrating transparency equal trust when building a company fosters a stronger culture and relationship with employees and investor.
In a world where more and more companies stay private, transparency matters—especially for regulated businesses. When I shared Kraken Digital Asset Exchange metrics, it sparked a conversation among the companies in my portfolio at Tribe Capital. The question was: Why do this? And my response was simple—because we should and it keeps us accountable to our shareholders and our customers. Today, I’m proud to see some of the companies I’ve co-founded doing the same.
Highlights:
✅ Profitable since day one.
✅ We offer deposits, lending, expense management, taxes, payroll, and more. As a regulated bank in Mexico, operating in Colombia and Peru, we’ve built a platform that enables real innovation in financial services.
✅ Our unique approach—combining software with lending—lets us provide the best financial products to small and medium-sized businesses, giving them the tools they need to scale.
📊 Why this matters:
In emerging markets, small and medium businesses (SMBs) are the heartbeat of the economy. We’ve built something that truly serves them, and I’m excited to share some key numbers:
📈 Just shy of $200M in revenue.
🏦 $500M in deposits in Mexico.
💼 100,000+ merchants on our platform across the region.
We’ll be sharing our metrics every quarter. Looking forward to continuing this journey.
Lambda CEO on the growing artificial intelligence infrastructure demand
“We are building a long-lived, iconic company that is going to be here for the next 100 years.” - hear from Stephen Balaban, CEO and co-founder of Lambda on Bloomberg Technology🚀
An embrace of open-source AI models is helping to fuel interest in Al cloud platforms like startup Lambda, a startup which raised $480 million in its Series D funding round from the likes of Nvidia and ARK Invest. Lambda CEO Stephen Balaban joins Caroline Hyde and Jackie Davalos on "Bloomberg Technology." (Source: Bloomberg)
Apptronik Raises $350M series A to scale their AI powered humanoid Robots to meet customer demand
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Apptronik Robotics partners with Google DeepMind to advance AI-powered humanoid robots
Apptronik and Mercedes-Benz Enter Commercial Agreement That Will Pilot Apptronik's Apollo Humanoid Robot in Mercedes-Benz Manufacturing Facilities
Leading the humanoid robotics revolution. Apptronik, the AI-powered humanoid robotics company, announced the successful closing of a $350 million Series A funding round co-led by B Capital and Capital Factory, with participation from Google. The new funding marks a pivotal moment for Apptronik, fueling the deployment of Apollo—its groundbreaking humanoid robot—while enabling the company to scale operations, accelerate innovation, and grow its world-class team to meet the surging demand for next-generation, AI-powered humanoid robots.
"We’re creating the world’s most advanced and capable humanoid robots, designed to work alongside humans in meaningful and transformative ways,” said Jeff Cardenas, CEO and co-founder of Apptronik. “By uniting cutting-edge AI with hardware engineered for meaningful interaction, we're shaping a future where robots become true partners in driving progress. It’s inspiring to have investors who believe in this vision and are committed to helping us bring it to life.”
Capital Factory Chairman and first outside board director of Apptronik, Gordon Daugherty said, "We continue to be proud investors in Apptronik because we believe they’re not just building robots—they’re setting a new standard in human-centered AI. Apollo’s refreshingly friendly and approachable design perfectly reflects the company's vision for humanoid robots that benefit businesses, individuals, and humanity. We believe Apptronik is leading the charge in a rapidly growing market."
This investment allows Apptronik to:
- Accelerate the development of next-generation humanoid robots, including quickly advancing iterations of Apollo and exploring new form factors. New innovations will expand Apollo’s capabilities, enabling it to address a wide range of applications in industries like logistics and manufacturing, as well as eldercare and healthcare in the future.
- Push the boundaries of humanoid robot design and development. Apptronik’s full-stack approach to designing a humanoid robot platform underscores its commitment to innovation and the creation of human-centered robots that are not only highly functional but also user-friendly and approachable. Apptronik’s world-class design includes a heritage of unique actuation, or motor, technology that unlocks affordability, simplifies maintenance, and paves the way for mass production.
- Meet skyrocketing customer demand. Apptronik is scaling manufacturing of Apollo units to fulfill growing orders across priority verticals—including automotive, electronics manufacturing, third-party logistics providers, beverage bottling and fulfillment, and consumer packaged goods.
This follows three transformative years of record growth for Apptronik. In 2022, Apptronik joined forces with NASA to advance humanoid robotics innovation. Last year, the company collaborated with NVIDIA to show dexterous manipulation and will work with customers to leverage Apollo in Omniverse digital twins. It also established a landmark strategic partnership with the Google DeepMind robotics team to combine best-in-class AI with Apptronik’s cutting-edge humanoid robot platform. Furthermore, the company secured foundational commercial agreements with industry leaders Mercedes-Benz and GXO Logistics, demonstrating the real-world applications and market demand for its advanced humanoid robots.
Founded in 2016 at the University of Texas at Austin’s Human Centered Robotics Lab, Apptronik has established itself as a leader in humanoid robotics. The company has developed 15 robotic systems, including the NASA Valkyrie, before unveiling Apollo—an AI-powered humanoid designed for industrial work. Built for seamless collaboration in logistics, manufacturing, and retail, Apollo combines technical excellence with human-centered design. With expanded deployment planned for 2025, Apollo is poised to transform workplaces worldwide.
Apptronik accomplished this with only $28 million in previous funding, demonstrating impressive capital efficiency. This $350 million Series A funding round underscores the growing confidence in Apptronik’s execution and vision for the future of humanoid robotics. Backed by key partners and investors, this new funding fuels the continued development and deployment of Apollo, positioning Apptronik at the forefront of creating scalable, AI-powered solutions for industrial applications today and consumer applications in the near future.
“With Apptronik, we see a world in which humanoid robots play a vital role in addressing societal challenges—from assisting with disaster relief and elder care to supporting space exploration and medical advancements. Industry leaders like Mercedes-Benz and GXO Logistics are already seeing the real-world impact of Apptronik's technology,” said Howard Morgan, Chair and General Partner of B Capital. “We back the most innovative founders, and there’s no exception here. Jeff and the team are redefining robotics while reshaping our world for the better.”
About Apptronik
Apptronik is a human-centered robotics company developing AI-powered humanoid robots. Our goal is to create human helpers to support humanity in every facet of life. Our robot, Apollo, is designed to collaborate thoughtfully with humans—initially in critical industries such as manufacturing and logistics, with future applications in healthcare, the home, and beyond. Apollo is the culmination of nearly a decade of development, drawing on Apptronik’s extensive work on 15 previous robots, including NASA’s Valkyrie robot. Apptronik started out of the Human Centered Robotics Lab at the University of Texas at Austin and has over 150 employees.
Media Contact
apptronik@launchsquad.com
AI infrastructure leader Lambda Labs closes $480M Series D to expand AI cloud platform
Artificial intelligence is restructuring the global economy, redefining how humans interact with computers, and accelerating scientific progress. AI is the foundation of a new industrial era and a new era of computing.
We’re excited to share that Lambda has raised $480M in Series D funding, co-led by Andra Capital and SGW with participation from new investors Andrej Karpathy, ARK Invest, Fincadia Advisors, G Squared, In-Q-Tel (IQT), KHK & Partners, and NVIDIA, among others, as well as strategic investment from Pegatron, Supermicro, Wistron and Wiwynn, as well as many existing investors including 1517, Crescent Cove, and USIT.
Lambda Inc. (Lambda Labs) is a specialized GPU cloud infrastructure provider, serving accelerated compute for AI training and inferencing workloads. Lambda focuses on maximizing the useful life of their GPUs, with the latest generation being used for training, as older generations are increasingly optimized for inference.
Lambda’s $480M Funding: Building a Hyperscaler Cloud for AI Developers & End-Users
The raise will accelerate their platform trajectory to empower AI engineers and builders.
- Expand the Lambda Cloud platform
- Supercharge their Inference API
- Further democratize secure, open-source AI
New capital positions Lambda as the leading platform for large-scale AI cloud infrastructure, AI inferencing, and open source AI chat
Lambda, the AI Developer Cloud, today announced it has raised a $480 million Series D, bringing the total equity capital raised to date to $863 million. The round was co-led by Andra Capital and SGW with participation from new investors Andrej Karpathy, ARK Invest, Fincadia Advisors, G Squared, In-Q-Tel (IQT), KHK & Partners, and NVIDIA, among others, as well as strategic investment from Pegatron, Supermicro, Wistron, and Wiwynn, as well as many existing investors including 1517, Crescent Cove, and USIT.
“In a landscape where speed and scalability are paramount, Lambda’s deep understanding of AI hardware and software provides developers with critical infrastructure to stay ahead of the curve”
“AI is fundamentally restructuring our economy. Lambda is investing billions of dollars to build the software platform and infrastructure powering AI,” said Lambda CEO and co-founder Stephen Balaban. “We build software tools that delight the AI Developer, and a platform that truly puts AI into the hands of the many. This investment will accelerate the expansion of the Lambda Cloud platform, Lambda Model Inference API, and Lambda Chat AI Assistant.”
Building a Hyperscaler Cloud for AI Developers & End-Users
Lambda provides infrastructure, cloud services and software for the fine-tuning, training, and inferencing of AI models. Following the company’s last funding announcement in April, Lambda has grown rapidly. The company expanded its SOC 2 compliance to Type II – a major milestone in providing a highly secure public cloud environment. It launched the first self-serve and on-demand GPU clusters for AI model training: 1-Click Clusters. Leveraging Lambda’s massive base of owned compute infrastructure, the company has introduced the Lambda Inference API and Lambda Chat AI Assistant, offering hosted access to open source models like DeepSeek R1.
“In a landscape where speed and scalability are paramount, Lambda’s deep understanding of AI hardware and software provides developers with critical infrastructure to stay ahead of the curve,” said Paul Tuan, Managing Partner of Andra Capital. “We’re confident that Lambda’s solutions will be central to powering the next wave of AI-driven innovation and delivering tangible value across industries.”
JPMorgan acted as private placement agent in the financing.
About Lambda
Lambda was founded in 2012 by AI engineers with published research at the top machine learning conferences in the world. Our GPU cloud and on-prem hardware enables AI developers to easily, securely and affordably build, test and deploy AI products at scale. Lambda’s mission is to accelerate human progress with ubiquitous and affordable access to computation. One person, one GPU.
Contacts
Media Contact
pr@lambdal.com
Advertising Technology leader TripleLift names Dave Helmreich as CEO
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TripleLift’s New CEO Dave Helmreich On Standing Out In The Crowded SSP Market - AdExchanger
TripleLift Taps Ex-Innovid CCO Dave Helmreich as CEO - AdWeek
FOLLOW DAVE ON LinkedIn | Instagram |. Twitter
TripleLift, the Creative SSP transforming digital advertising with innovative technology and immersive ad formats, today announced the appointment of Dave Helmreich to the position of chief executive officer. Helmreich will build on TripleLift's momentum by accelerating strategic initiatives and growth plans, further enhancing its market leadership and driving innovation in the digital advertising industry through cutting-edge creative technology, actionable data, advanced targeting, and premium inventory.
Helmreich is an experienced leader and tech veteran with over 20 years in SaaS and tech-enabled services in marketing, media and advertising. Most recently, he served as chief commercial officer at Innovid, a software platform for the creation, delivery, measurement, and optimization of advertising across connected TV (CTV), linear, and digital channels. There, Helmreich helped drive double-digit revenue growth by transitioning the company to a pure software model and transforming its go-to-market strategies. Prior to Innovid, Helmreich held numerous leadership roles at both high-growth and established enterprise leaders, including Audience Partners, Liveintent, Oracle, and Stackline.
"I am thrilled to join the TripleLift team and help advance its mission to transform digital advertising with a focus on creativity," said Helmreich. "For too long, technology has been used solely to optimize processes and squeeze margins, while the role of creative has been largely overlooked. With its strong foundation in native and cutting-edge creative technology, TripleLift is redefining the advertising landscape. I look forward to leading the company as we continue to deliver exceptional value to consumers, publishers, and advertisers, and drive innovation in the industry."
"Dave is a consummate leader, entrepreneur, and operator with over two decades of AdTech and MarTech experience," added Eric Roza, Operating Managing Director at Vista Equity Partners and member of TripleLift's Board of Directors. "Combining technical depth and commercial acumen, Dave is a people-centered leader with a deeply analytical mind. I am confident that Dave will be a huge asset driving TripleLift into the future."
"TripleLift enables its customers to make the most of every impression with the level of precision, scale and creativity required to elevate brands in an increasingly crowded and noisy digital environment," said Rod Aliabadi, Managing Director at Vista Equity Partners. "Dave's outcome-driven approach and extensive experience working at the intersection of marketing, advertising and technology make him the ideal leader to guide TripleLift into this exciting next chapter of growth and opportunity."
Helmreich's appointment comes following a year of rapid growth for TripleLift. In May 2024, TripleLift unveiled Adaptive Commerce Solutions, a new suite of products tailored for retail and commerce buyers. This suite was introduced as TripleLift became the first Supply-Side Platform (SSP) to support the Amazon Ads Native Responsive eCommerce (REC) format on third-party supply. TripleLift's developments with Amazon further expanded last week with the announcement that the company was selected as an early beta participant for Amazon Ads' new traffic signal sharing and shaping tool, Dynamic Traffic Engine.
About TripleLift
TripleLift is the Creative SSP, transforming digital advertising with innovative technology and immersive ad formats. From web to CTV and retail media, we connect advertisers with consumers in meaningful ways while empowering publishers to maximize revenue. As the largest minority-owned SSP, we deliver value-driven outcomes that support diversity and drive the future of digital advertising.
AI inference chip startup Groq secures $1.5 billion from Saudi Arabia as a part of a $14.9B global data center
Artificial intelligence semiconductor company Groq has received a $1.5B commitment from Saudi Arabia to increase the number of AI processors going to the country for expanded LPU™ AI inference infrastructure.
Silicon Valley AI pioneer Groq has secured a $1.5 billion commitment from the Kingdom of Saudi Arabia (KSA) for expanded delivery of its advanced LPU-based AI inference infrastructure. Announced at LEAP 2025, this major agreement advances the Kingdom's position as a global leader in AI computing infrastructure while meeting rapidly growing regional demand.
This agreement follows the operational excellence Groq demonstrated in building the region's largest inference cluster in December 2024. Brought online in just eight days, the rapid installation established a critical AI hub to serve surging compute demand globally.
From its state-of-the-art data center in Dammam, Saudi Arabia, Groq is now delivering market-leading AI inference capabilities to customers worldwide through GroqCloud™. At LEAP 2025, Jonathan Ross, CEO and Founder of Groq, alongside Tareq Almin and Ahmad O. Al-Khowaiter, Chief Technology Officer of Saudi Aramco, demonstrated reasoning LLMs, a KSA-created model Allam, and text to speech models in English and Arabic running live.
The $1.5 billion commitment towards Groq AI infrastructure represents a defining moment for both Groq and the Kingdom to deliver on the Vision 2030 goal of an AI-powered economy in Saudi Arabia.
"It's an honor for Groq to be supporting the Kingdom's 2030 vision," said Jonathan Ross, CEO and Founder of Groq. "We are excited to work alongside Saudi innovators to shape the next chapter of AI."
The startup has an existing agreement with Aramco Digital, the technology subsidiary of oil major Aramco, through which the companies built a critical AI hub in the region in December.
Groq told Reuters it will receive funds over the course of this year to expand its existing data center in Dammam. The company's chips, which specialize in fast responses from chatbots and other large language models, are subject to U.S. export controls, but Groq said it has obtained the licenses it needs to ship them to Dammam.
The commitment was announced at Saudi's global technology event, LEAP 2025. At this event, the country secured $14.9 billion in fresh AI investments.
One of the technologies that the Dammam data center will support is an AI technology called Allam, an AI language model that works in both Arabic and English and was developed by the Saudi government.
In August, Groq clinched a valuation of $2.8 billion after raising $640 million in a funding round led by Cisco Investments, Samsung Catalyst Fund and BlackRock Private Equity Partners.
Learn more about how Groq is changing the AI industry at groq.com and if you're interested in access to GroqCloud, learn more here.
About Groq
Groq builds fast AI inference technology. GroqCloud™ delivers exceptional AI compute speed, quality, and energy efficiency for enterprises and developers with its LPU™ AI inference technology. Groq, headquartered in Silicon Valley, provides cloud and on-prem solutions at scale for AI applications. The LPU and related systems are designed, fabricated, and assembled in North America. Build fast with Groq at groq.com.
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LemFi raises $53m Series B to accelerate their global remittence and payments platform
LemFi is transforming how immigrant communities access financial services, starting with international remittance and payments to ease financial hurdles. The platform enables diaspora communities in Europe and North America to move money reliably and affordably to emerging markets, including China, India, Kenya, Nigeria and Pakistan.
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LemFi moves remittances further into Asia and Europe with $53M in new funding - Techcrunch
Lemfi, a remittance startup serving African immigrants across 22 countries, has raised $53 million in a Series B round to support its expansion into Europe through the acquisition of a European firm.
The round was led by Highland Europe, a London-based growth-stage investment firm that only backs startups with more than €10 million in annualised revenues, and with follow-on investment from existing investors like Endeavor Catalyst, Left Lane Capital, Palm Drive Capital, and Y Combinator. This round means the startup has received $85 million in funding since it was founded in 2019 by Ridwan Olalere and Rian Cochran.
Lemfi’s expansion into Europe came off the back of a partnership with Modulr, but its acquisition of an unnamed Republic of Ireland-based company will allow it to begin its European operations independently from next month. The startup makes money from transaction fees and foreign exchange spreads across the countries it operates in.
The funding will allow Lemfi to acquire more licenses and partnerships as it expands its offerings to include localised services for customers. Lemfi is set to launch a card for customers in the US, the UK and Canada. It will also hire staff as it continues to grow rapidly.
Lemfi is now processing $1 billion in monthly payment volume, a significant jump from 2023 when it processed $2 billion in annual transaction volume. The startup has also doubled users, revenue, and transactions over the past two years. Olalere credited the growth to strong adoption in the Asian corridor, which rakes in $160 million in monthly TPV and is growing 30% month-on-month since it launched last year.
After expanding into the US in 2023, the startup entered large remittance markets like China, India, and Pakistan in 2024. It entered these markets by poaching C-suite executives from domestic companies like Terrapay, DeliveryHero, and OPay.
TrueFoundry closes $19 Million Series A to transform AI deployment at scale powered by their AI DevOps Agents
With funding led by Intel Capital, TrueFoundry empowers enterprises to build and deploy AI applications with unparalleled efficiency and governance.
AI isn’t just about models anymore—it’s about full-stack AI systems. Companies aren’t just deploying one AI model—they’re managing multiple models, external tools, vector databases, and complex workflows. Yet, AI infrastructure remains the biggest bottleneck.
That’s why the founders built TrueFoundry, to bring AI deployment on autopilot, enabling enterprises to focus on innovation instead of infrastructure.
FOLLOW TRUEFOUNDRY on LinkedIn | YouTube | Twitter
TrueFoundry, a leading AI deployment and scaling platform, today announced it raised $19 million in Series A funding, led by Intel Capital. Existing investors Eniac Ventures and Peak XV Partners (formerly Sequoia Capital India & SEA) participated, alongside new investor Jump Capital and several angel investors including Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000s. In conjunction with the financing, Avi Bharadwaj, Investment Director at Intel Capital, will join TrueFoundry’s board of directors.
The rapid rise of generative AI has made deploying machine learning models from development to production increasingly challenging. Enterprises grapple with governance, data privacy, and rising infrastructure costs like GPU orchestration and model scaling, which slow innovation and limit the impact of AI. TrueFoundry’s platform tackles these pain points head-on, enabling companies to deploy, manage, and scale AI applications seamlessly, securely, and cost-effectively.
“Enterprises using TrueFoundry have built and launched their internal AI platforms in as little as two months, achieving ROI within four months–a stark contrast to the industry average of 14 months,” said Nikunj Bajaj, CEO & Co-founder of TrueFoundry. “Our platform integrates seamlessly across clouds, models, and frameworks, ensuring no vendor lock-in while future-proofing deployments for evolving AI patterns like RAGs and Agents.”
TrueFoundry’s unified platform as a service (PaaS) enables enterprise AI/ML teams to build, deploy, and manage large language model (LLM) applications on cloud or on-prem infrastructure with speed, scalability, and security. With a developer-first interface, it simplifies the AI deployment process, empowering full-stack data scientists to independently create, test, and scale applications. The platform integrates essential AI deployment functions—from model cataloging and fine-tuning to API
deployment—into a single system, ensuring secure, efficient operations while bridging the gap between DevOps and MLOps.
This funding round follows a year of significant achievements for TrueFoundry, including:
● A 4X year-over-year growth in customer base
● Deploying 1,000+ clusters across clients for ML workloads
● Partnering with Fortune 500 companies and enterprises such as Siemens Healthineers, Resmed,
Automation Anywhere, Games 24x7, and NVIDIA.
TrueFoundry has helped customers accelerate development cycles, achieve 10X faster business value, save on infrastructure costs, and scale with smaller teams. For example, TrueFoundry optimized NVIDIA’s GPU usage for LLM workloads by automating resource allocation and job scheduling, reducing idle time, cutting costs, and improving efficiency. The platform’s real-time monitoring and adaptive scaling ensured reliable AI model training and deployment, while seamless integration sped up iteration and time-to-value.
"TrueFoundry is uniquely positioned to address the growing complexities of AI deployment. Their platform simplifies the process for AI teams, enabling them to build, deploy, and scale applications with speed and efficiency,” said Avi Bharadwaj, Investment Director at Intel Capital. “With a focus on cost-efficiency, governance, and security, TrueFoundry is solving critical challenges for businesses, and we believe they are poised to lead in the rapidly expanding AI infrastructure market."
The Series A funding–which brings the company’s total financing to $21 million–will allow TrueFoundry to accelerate its mission toward building a universal platform to build and deploy AI applications with zero infrastructure hassles. It fuels growth in key areas, including team expansion and go-to-market efforts to drive customer acquisition and expansion.
"At TrueFoundry, we’re building a future where AI manages AI–removing the bottlenecks of human intervention and unlocking unparalleled speed and scale,” said Abhishek Choudhary, CTO & Co-founder of TrueFoundry. “Our platform streamlines infrastructure with auto-scaling, intelligent maintenance, and proactive issue detection to ensure smooth operations. By centralizing model access, cost tracking, and maintaining zero data leakage, we ensure security and compliance, empowering businesses to deploy AI seamlessly and efficiently at scale."
Looking ahead, TrueFoundry aims to redefine AI deployment with its AI Agent—a proactive, self-sustaining system that anticipates and adapts. By automating workflows, optimizing resources, and resolving potential issues before they arise, the AI Agent ensures enterprises can deploy smarter, scale faster, and achieve AI-driven results with unprecedented efficiency.
About TrueFoundry
TrueFoundry is an enterprise platform as a service that empowers enterprise AI/ML teams to build, deploy, and manage large language model applications at scale with speed, cost-efficiency, and robust governance. Designed for full-stack data scientists, it simplifies the end-to-end AI deployment process, offering features like auto-scaling, proactive maintenance, and centralized access controls. TrueFoundry’s vision is to create a self-sustaining AI ecosystem where AI manages AI, driving unparalleled speed, scale, and innovation for businesses. To learn more about TrueFoundry, visit www.truefoundry.com.