# Grid.AI

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/grid-ai

- Industry: Software
- Headquarters: New York, US
- Website: www.grid.ai
- Total disclosed funding: $59M
- Latest round: Series B (Jun 16, 2022)
- Investors on record: 5

## About

Grid.AI, Inc. specializes in creating advanced machine learning solutions, enabling users to focus on model development while simplifying infrastructure management. Their innovative tools enhance deep learning applications across various industries.Founded in 2019 and headquartered in New York, US, Grid.AI, Inc. (now known as Lightning AI) is dedicated to simplifying the machine learning process. The company has successfully completed three deals, with its most recent funding round occurring on June 16, 2022, where they raised USD 40.00 mn in a Series B round led by Coatue Management, with participation from Bain Capital, Firstminute Capital, Index Ventures, and Mantis. The firm was co-founded by Luis Capelo and William Falcon, with Falcon serving as CEO. The latest funding brings the total amount raised by the company to USD 40.00 mn, and its current valuation stands at USD 264.80 mn.Lightning AI offers a suite of products that streamline the machine learning process, focusing on model training and hyperparameter optimization specifically for deep learning applications. Their offerings serve a range of use cases, including drug discovery and improvements in finance and autonomous systems, targeting a global clientele primarily located in North America, Europe, and Asia. The company aims to facilitate the work of data scientists and ML engineers by providing ready access to computational resources and collaborative tools.Lightning AI generates revenue through a subscription-based model aimed at businesses needing robust machine learning infrastructure. Clients engage with various pricing tiers to access the platform's full range of services, including project management, data handling, and model training tools. Their pricing plans cater to both small startups and large enterprises, ensuring scalable solutions across different sectors.Following their Series B funding round on June 16, 2022, where Grid.AI, Inc. raised USD 40.00 mn, the company plans to leverage this capital for innovation and new AI research. Lightning AI intends to expand its product offerings, though specific new products and release dates have not been disclosed. Moreover, the company is looking to enter new markets and geographic regions, although details on the targeted areas and timelines for expansion are not provided.

## Funding rounds

- Series B, Jun 16, 2022, $40M — Index Ventures, Bain Capital, Coatue Management, Firstminute Capital, Mantis
- Series A, Oct 8, 2020, $19M — Index Ventures, Bain Capital, Firstminute Capital

## Investors

- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Series A, Series B
- Bain Capital (https://capitalatlas.ai/funds/bain-capital) — Series A, Series B
- Firstminute Capital (https://capitalatlas.ai/funds/firstminute-capital) — Series A, Series B
- Coatue Management (https://capitalatlas.ai/funds/coatue-management) — Series B
- Mantis (https://capitalatlas.ai/funds/mantis) — Series B