Latvian theIntelligent VC invests in AI developer cloud Lambda

Riga-based theIntelligent VC has invested in American AI developer cloud Lambda. The fund participated in the Series D round of $480M, co-led by American company Andra Capital and SGW with participation from new investors internationally Andrej Karpathy, ARK Invest, Fincadia Advisors, G Squared, In-Q-Tel (IQT), KHK & Partners, and NVIDIA, among others, as well as strategic investment from Pegatron, Supermicro, Wistron and Wiwynn.

Lambda was founded in 2012 by brothers Stephen and Michael Balaban. The company is based in San Francisco, California. The company provides infrastructure, cloud services and software for the tuning, training and deploy of AI models. 

With the funds raised, Lambda will be able to scale its AI platform and realize its plans to further democratize safe, open source artificial intelligence.

Founded in Riga, theIntelligent VC is a venture company with a focus on early-stage AI-powered startups. To receive investment, the startups must demonstrate "at least minimal" traction through sales, contracts, or other tangible indicators of market validation. Partners of the VC are Andrei Doktoroff and Tetiana Doktorova.