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Engineering Software Startup Rescale Raises $115 Mil From Applied Materials, Nvidia
SAN FRANCISCO : Rescale, a San Francisco-based startup that makes engineering software used to design race cars and computer chips, raised $115 million on Monday in venture financing.Backers in the round included the venture arm of semiconductor manufacturing equipment maker Applied Materials and Nvidia,
The money raised Monday will go toward using artificial intelligence to speed up that process, Joris Poort, Rescale's founder and CEO, told Reuters on April 4. The AI models, Poort said, will not be quite as good as the full-scale simulation, but they are close in accuracy and much faster to run once trained. Earlier Rescale investors include OpenAI co-founder Sam Altman, Amazon's Jeff Bezos, PayPal co-foudner Peter Thiel and Microsoft.
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