Plural invests in LLM technology developer Oriole Networks

Plural, co-founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, has invested in LLM technology developer Oriole Networks. Other investors in this £17,5M Series A were not disclosed. As part of the deal, Plural partner Ian Hogarth has been appointed a director of the company.

Founded in 2023 by George Zervas, James Regan, and Alessandro Ottino, and spun out of University College London, Oriole Networks develops technology for transferring data between computers, focusing on a new way to connect graphics processing units (GPUs) — the chips used to train large generative AI models. GPUs, which are essential for training large generative AI models, traditionally use Ethernet cables to communicate. Oriole Networks replaces these cables with light beams transmitted over fiber optic cables.

The company says its technology can increase data transfer speeds by up to 100 times, while also reducing power consumption to 2-3% of that required by Ethernet cables. By using light to transmit data, the company hopes to make data centers more energy efficient.

Oriole hasn't yet released a product or generated revenue, but the company plans to bring its technology to market within a few years.

Founded in 2022 by Sten Tamkivi (founder of the software company Teleport and former Skype executive), Taavet Hinrikus (founder of the money transfer service Wise), Ian Hogarth, and Khaled Helioui, Plural focuses on leading early-stage rounds between €1M and €10M. In 2023, a new partner, AI-driven biotech HelixNano founder, and VC investor Carina Namih joined Plural. The fund has its own rule that requires all of Plural's partners to make personal co-investments in the deals they lead.