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July 23, 2026 - Deals
Etched Raises $300 Million In Series C Funding From Sequoia And Others Valued At $10.3 Billion
Etched, a San Jose-based AI hardware company, has raised $300 million in Series C funding from Sequoia, Andreessen Horowitz, Jane Street, Argo, and SK Hynix. The round values the company at $10.3 billion. Founded by Gavin Uberti, Robert Wachen, and Chris Zhu, Etched develops frontier inference clusters and its Sohu chip, purpose-built to make running AI models significantly faster, more cost-effective, and more power-efficient than traditional general-purpose GPUs.
FUN FACT: In 2022, months before ChatGPT and years before Cursor, Claude Code, and Codex, Gavin Uberti, Robert Wachen, and Chris Zhu dropped out of Harvard to make a bet that looked, at the time, nearly irresponsible: they would build an entire inference system—new chips, boards, interconnects, and racks—from scratch. Etched's first racks ship to customers this summer, a 10-megawatt site is standing up, and customers are already running workloads on Etched hardware remotely.
FOUNDERS: Gavin Uberti, Robert Wachen & Chris Zhu
INVESTORS: Sequoia, Andreessen Horowitz, Jane Street, Argo, SK Hynix & Soma Capital
ROUND: Series C
AMOUNT: $300,000,000
VALUATION: $10,300,000,000
HQ: San Jose, California
#VentureCapital #Etched #GavinUberti #TradedPartner #TradedVC
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Colossal Biosciences In Talks For Funding Round Targeting $23 Billion ValuationColossal Biosciences, the de-extinction biotech startup known for its efforts to recreate the woolly mammoth and other extinct species, is reportedly in talks to raise new funding at a valuation of roughly $23 billion–$24 billion, according to Axios. The potential raise would mark a significant jump for the five-year-old company, with investors valuing not only its genetic-engineering programs but also its broader genomics, reproductive technology, conservation, and intellectual property platform. Colossal has begun generating revenue through conservation technology sales and technology spinouts, including Astromech, an AI-driven predictive modeling company, and Form Bio, a computational biology platform, expanding its value beyond de-extinction efforts.
FOUNDERS: Ben Lamm & George Church
TARGET VALUATION: $23,000,000,000
HQ: Dallas, Texas
#VentureCapital #ColossalBiosciences #BenLamm #GeorgeChurch #TradedVC