Modal Labs Reaches Unicorn Valuation With Up To $87 Million Round
The serverless AI infrastructure provider’s Series B lifts valuation to $1.1 billion, led by Lux Capital with existing backers participating.
What Modal announced on September 29
Modal Labs raised $80 to $87 million in Series B financing, bringing total funding to $111 million and valuing the company at $1.1 billion. The New York startup provides serverless AI infrastructure that automatically scales GPUs and simplifies deployment.
Product and platform positioning
Modal aims to be an end‑to‑end environment for developing and running AI applications in production. The platform emphasizes fast cold‑start times, ephemeral containers, and autoscaling tied to model workloads. Customers access GPUs through managed orchestration that abstracts away cluster operations.
Why investors are buying the thesis
The pitch …
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