Auradine Raises $80 Million in Oversubscribed Series B Financing and Achieves $80 Million in Bookings

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This Series B funding follows Auradine’s $81 million Series A, led by Celesta Capital and Mayfield in 2022.

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Provider:

GlobeNewswire, Inc.

Retrieved on:

Wednesday, April 10, 2024

Information

Tags:

Bitcoin, Immersion, Investment, AI, Silicon, Blockchain, Growth, Application-specific integrated circuit, Maverick Capital, MVP, General partnership, Mayfield (company), StepStone Group, Miner, Atmosphere, Marathon Digital, Philosophy, Cryptocurrency

Geotags:

SANTA CLARA, CALIFORNIA, US, UNITED STATES

Organisation:

AURADINE

Summary

Key Points:

This Series B funding follows Auradine’s $81 million Series A, led by Celesta Capital and Mayfield in 2022.
Auradine started with a mission to disrupt the blockchain market with its revolutionary Teraflux™ family of Bitcoin ASIC Miners.
Auradine has delivered leading-edge ASICs and solutions with the world's fastest miners, setting new performance and energy efficiency benchmarks.
As a result, Auradine has achieved bookings of $80M along with a robust order pipeline of over $200 million and is continuing to grow its customer base globally.

SILICON VALLEY, Calif., April 10, 2024 (GLOBE NEWSWIRE) -- Auradine, a leading provider of web infrastructure solutions, including blockchain, security, and AI, today announced the closing of its Series B funding round, which raised over $80 million. The round welcomed several new investors, including StepStone Group, Top Tier Capital Partners, MVP Ventures, and Maverick Capital, along with leading strategic and angel investors. Existing investors Celesta Capital, Mayfield Fund, and Marathon Digital also participated in this round. This Series B funding follows Auradine’s $81 million Series A, led by Celesta Capital and Mayfield in 2022.

Rajiv, Auradine

Auradine started with a mission to disrupt the blockchain market with its revolutionary Teraflux™ family of Bitcoin ASIC Miners. Auradine has delivered leading-edge ASICs and solutions with the world's fastest miners, setting new performance and energy efficiency benchmarks. The Teraflux products also feature Auradine’s patent-pending EnergyTune™ and AutoTune™ innovations, which are critical to addressing the demand response and grid stability requirements of the energy infrastructure.

These products have now been shipped to over 30 leading data-center-scale miners, with robust field performance proven over long durations in extreme conditions for air and immersion cooling form factors. As a result, Auradine has achieved bookings of $80M along with a robust order pipeline of over $200 million and is continuing to grow its customer base globally.

Auradine’s strong market momentum in the Bitcoin mining sector underscores its commitment to delivering world-leading solutions. This achievement is significant, especially as the company champions innovation and designs its products in the United States, a critical factor for decentralized supply and national security in the current geopolitical landscape. With its Series B funding and a track record of success, Auradine is well-positioned to rapidly scale Teraflux revenues and enhance R&D for its portfolio of blockchain and AI security solutions.

“We are very proud of the advancements that our team has made in bringing innovative, energy-efficient, and secure products to our customers,” said Rajiv Khemani, co-founder and CEO of Auradine. “The strong orders and pipeline reflect the confidence our customers have in us. With this new funding, we will ramp up production capacity and accelerate investments in our product roadmaps.”

Navin Chaddha, managing partner at Mayfield Fund, said, “Auradine's remarkable journey from its inception to achieving substantial orders in such a short time frame is a testament to its compelling solutions and the team's execution capabilities. We are delighted to support Auradine as it continues to pave the way in blockchain and AI infrastructure with impactful and sustainable solutions.”

John Avirett, Partner at StepStone Group, commented, "Auradine has assembled a truly world-class team spanning blockchain, security, AI and silicon expertise. Their focus on energy efficiency and highly secure solutions aligns with our investment philosophy. We are confident in Auradine's potential for continued growth and are proud to support their journey."

Andre De Baubigny, Co-founder and General Partner at MVP Ventures, stated, "Auradine has demonstrated an outstanding ability to innovate and execute fast in a complex market. Their achievements with cutting-edge technologies and securing significant business speak volumes. We are thrilled to be part of Auradine's path to redefine the blockchain and AI landscape."

To learn more about Auradine, please visit auradine.com.

About Auradine
Auradine is a leader in blockchain, security, and AI web infrastructure solutions. The company provides groundbreaking software, hardware, and cloud offerings to enable scalable, sustainable, and secure solutions. Founded in 2022 by a team of seasoned entrepreneurs and technologists, Auradine boasts deep expertise and a proven track record in security, SaaS, semiconductors, and systems. Headquartered in Silicon Valley, California, Auradine is committed to innovation and excellence. For more information, visit www.auradine.com.

Media Contact:
Sanjay Gupta
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cc81d9b0-4af9-402b-8311-a517c6808ad0