AI inference startup Fal raised $1.3 billion in a funding round that closed in October. The round valued the company at $16 billion, double its previous valuation.
Existing investor Bessemer Venture Partners led the round. Nvidia, T. Rowe Price, and Sound Ventures also participated.
In April, Fal raised $350 million at an $8 billion valuation. CEO said demand for the company’s services—running trained AI models for businesses—exceeded its computing capacity over the summer, prompting the latest fundraising.
Fal will use the funds to expand its computing power and grow its team.