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Graphcore attracts $220m in its largest ever funding round


Semiconductor maker Graphcore has announced it has raised another $222million (£164million) from investors in a funding round that values the company at nearly $2.8billion.
It is the largest amount of money the group has received in a fundraising round, surpassing the $200million it raised in December 2018 from investors such as Microsoft, BMW and early Apple investor Sequoia Capital.
The Bristol-based unicorn firm, which designs chips for use in artificial intelligence, has now raised over $710million since it was set up four years ago by Simon Knowles and Nigel Toon.
Graphcore manufactures intelligence processing units for use in artificial intelligence 
In its latest round, funding was led by the Ontario Teachers Pensions Plan Board and included Fidelity International and Schroders along with existing Graphcore investors like Tesla backer Baillie Gifford and venture capital group Draper Esprit. ....

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