Lattice Tiger 1b 450mroofbloomberg: Lattice gets $60 Million Funding from Tiger Global at a $1 Billion Valuation. The Financing Firm Tiger Global just provided $60 million in funding to Lattice and its already raised over $300 million in both VCs and sell-side investors.
As an investor, they see the company as a company with many opportunities to expand on their platform. The main product is the AI-based computer chip that Lattice is developing which will enable fast transactions and provide high capacity for data centers. One of the purposes of this funding is to help in that growth.
Having said that, investors have also seen a potential in the company’s business model where it will be getting new clients using its AI chip. Bob Pipkin, the CEO of Lattice Semiconductor said “More than 400 customers are signed up right now and we expect to dramatically increase the size of those bases over time. We’re working with customers to bring AI processing close to their data centers, which will benefit all internet users.”
Lattice is also working with AWS (Amazon Web Services) and Microsoft Azure. The company has a goal to build systems that others can be built on top of, so they will be able to incorporate the chip into their products as well. Pipkin said “The AI system will be in new products from the big companies within the next few months. We’re making our technology available to a broad base of customers, so they can build and run their own applications.” The company plans to continue working on the AI chip until 2021.
