Blaize Secures $106M for AI SPAC Deal

AI chip and software tool developer Blaize has secured $106 million in its latest funding round, with significant investments coming from key players in the automotive industry. The funding round saw participation from renowned companies such as Mercedes Benz and Tier One supplier Denso, signaling a strong show of support for Blaize's innovative technologies.

Joining the roster of investors are Bess Ventures, Franklin Templeton, and Temasek, along with new backers Rizvi Traverse, Ava Investors, and BurTech, the latter of which owns the special purpose acquisition company (SPAC) that will facilitate Blaize's upcoming public offering. This funding round follows a previous successful raise of $71 million in 2021, further solidifying Blaize's position in the market.

The core of Blaize's offerings lies in its cutting-edge graph streaming AI architecture and user-friendly low code software development tools tailored for a wide range of applications. These applications span across various sectors including automotive, mobility, retail, security, industrial automation, and healthcare. Notably, Blaize has been actively curating a 'model zoo' housing AI models optimized for its chip, enhancing the overall efficiency and performance of its solutions.

Central to Blaize's architecture is its comprehensive software suite comprising the Blaize AI Studio and Picasso Software Development Kit. These tools empower developers to create and deploy applications with a focus on achieving highly optimized total cost of ownership. Dinakar Munagala, CEO of Blaize, emphasized the company's commitment to driving innovation in edge AI technologies, stating, "This investment lends further credence to our thesis that edge AI is revolutionizing all industries, and we are supercharging our roadmap to deliver its promise."

In a strategic move to further propel its growth trajectory, Blaize announced plans in December 2023 to go public through a business combination with Nasdaq-listed BurTech Acquisition. This collaboration aims to accelerate Blaize's roadmap in developing advanced platforms and solutions for AI computing, spanning from edge devices to data centers. With a focus on versatility and adaptability, Blaize is poised to address the evolving landscape of AI applications, offering a unified hardware and software solution that mitigates risks and reduces costs for its customers.