The Series C round was led by Sequoia Capital, with participation from Andreessen Horowitz, Jane Street, Diffusion Capital Partners, and SK Hynix. The capital will be used to scale production and customer deployments through its Taiwan factory and a new 80,000-square-foot, 10 MW facility in Milpitas. Etched reports over $1 billion in existing customer contracts for its full frontier inference clusters.
Purpose-built inference systems are attracting significant capital and customer commitments, indicating a growing market for specialized AI compute beyond general-purpose GPUs.