Element Labs News
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Exclusive: Avigdor Willenz's Element Labs raises $50m
Element Labs, an Israeli startup founded by Avigdor Willenz, has raised $50 million in its Series A financing round, achieving a company valuation of $500 million. The round was led by Fidelity, with participation from Atreides. Element Labs is developing AI processors for inference, a stage where AI models are activated post-training. The company is at an advanced stage, aiming to complete its first series of chips and begin production tests at TSMC factories. The startup benefits from the experience and connections of its founders, including Willenz, who has a history of successful exits in the chip industry.
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Israeli AI-chip co Element Labs aims to rival tech giants
Element Labs, a new AI chip startup founded by Avigdor Willenz, is making waves in the tech industry with its ambitious plans to compete with major chip manufacturers like Broadcom, Marvell, and Nvidia. The company is developing an end-to-end hardware system for tech giants such as Amazon, OpenAI, and Microsoft, aiming to reduce reliance on Nvidias expensive systems. Element Labs has raised tens of millions of dollars from wealthy private investors and is planning an IPO to avoid acquisition. The company is expanding its operations and recruiting talent through word-of-mouth, creating significant industry buzz. The founders, including Willenz, maintain a low profile, avoiding media and traditional hiring methods.
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Serial entrepreneur and investor Avigdor Willenz, along with his former partners from Habana Labs, has quietly established a new startup called Touch. The company, which is expected to help tech giants reduce artificial intelligence calculations, has raised millions of dollars from the founders own funds. The company is currently temporarily located in Azrieli Towers in Tel Aviv. The founders include Willenz, CEO David Dahan, and VP of Development Ran Halutz, who sold their graphic processors company, Habana Labs, to Intel for $2 billion in 2019.
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