October 18-20 | Tucson, AZ

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CMU spinout Petuum gets nearly $100M in venture funding

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October 18-20, 2023 / Tucson, AZ
The annual summit for research institution gap fund and accelerator programs, including proof of concept programs, startup accelerators, and university venture funds

The Story

Carnegie Mellon University artificial intelligence spin-off company Petuum Inc. has raised $93 million in a new round of venture funding led by Japanese telecommunications and internet giant SoftBank Group, Petuum co-founder Eric Xing said.

Mr. Xing is a computer science professor on sabbatical from CMU, where he directed the Center for Machine Learning and Health.

The money will be used to hire engineers and support staff to commercialize Petuum software.

The company, which aims to make machine learning more widely available to industry and in medicine, received $15 million in initial venture capital funding in November.


Source: CMU spinout Petuum gets nearly $100M in venture funding | Pittsburgh Post-Gazette

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