Modal Labs Valued at $4.65 Billion in New Funding Round
AI startup Modal Labs raised 355 million dollars in a Series C round led by Redpoint Ventures and General Catalyst. The company helps developers access computing power and test AI-generated code, seeing its annualized revenue grow from 60 million to 300 million dollars since last September.
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Modal Labs raised $355 million in Series C financing, valuing the AI infrastructure startup at $4.65 billion. The valuation jumped from $1.1 billion in the fall following a surge in demand for AI-generated code testing. The round reflects strong investor appetite for infrastructure supporting AI development.
