Cornelis Networks Announces $29M Series B Funding Round

November 14, 2022

WAYNE, Penn., Nov. 14, 2022 — Cornelis Networks, Inc., a leading provider of high-performance interconnects accelerating technical computing workloads in HPC, AI, and ML, today announced a $29M capitalization.  The funding round was led by IAG Capital Partners, with additional investments from Adit Ventures, Foresight Group, Intel Capital, KittyHawk Ventures, Ridgeline Partners, and SQN Venture Partners.

The company’s investments in product enhancements to date have resulted in significant capability and performance improvements for key customer environments, driving major wins with US government organizations including the Department of Energy (DOE) as well as large commercial customers in the US and Europe.  In addition, Cornelis has secured significant non-dilutive funding from multiple US government agencies, including the DOE’s National Nuclear Security Administration (NNSA) Next-Generation High Performance Computing Network (NG-HPCN) project and the Intelligence Advanced Research Projects Activity (IARPA) Advanced Graphic Intelligence Logical Computing Environment (AGILE) program in partnership with Georgia Tech. 

Cornelis Networks plans to leverage this new funding to expand the company’s go-to-market capabilities and to accelerate delivery of its roadmap. “We could not be more pleased to work with IAG Capital Partners and our committed investors on the next phase of our company’s expansion.  The technical computing market is experiencing a significant growth cycle and requires an innovative, platform-agnostic high-performance interconnect provider to grapple with the scale and complexity of the workloads and the data that drive them,” said Cornelis CEO and co-founder Phil Murphy.  “This new round of investment will enable us to meet our customers’ needs today and in the future with accelerated innovation and deeper engagement.” 

“HPC, AI & ML have very quickly become vital components of competitiveness to an increasing number of markets over the past decade.  Investing in Cornelis is an opportunity for IAG to continue to build its targeted portfolio of critical infrastructure providers to these high-growth markets,” said Alonso Galván, Partner at IAG Capital Partners.  “We found in Cornelis a rare combination of a very experienced team and a strong product roadmap targeted at high-growth markets hungry for alternative solutions.”  

“We are excited to increase our ability to engage our customers and our partner ecosystem in providing the market with a choice in high-performance interconnect that emphasizes openness and interoperability.  Our customers will benefit from significant performance enhancements beginning this month with the release of our Omni-path Express software and continuing with the subsequent launch of our CN5000 400Gb fabric,” said Cornelis Networks’ chief commercial officer, Matt Jacobs.   

About Cornelis Networks 

Cornelis Networks is a technology leader delivering purpose-built, high-performance fabrics accelerating High Performance Computing, High Performance Data Analytics, and Artificial Intelligence workloads in the Cloud and in the Data Center. The company’s products enable scientific, academic, governmental, and commercial customers to solve some of the world’s toughest challenges by efficiently focusing the computational power of many processing devices at scale on a single problem, simultaneously improving both result accuracy and time-to-solution for their most complex application workloads. Cornelis Networks delivers its end-to-end interconnect solutions worldwide through an established set of server OEM and channel partners. For more information, visit www.cornelisnetworks.com or email [email protected]. 

About IAG Capital Partners 

IAG is a private investment group focused on early-stage technology and life science companies. The firm leverages a 25-year track record of investing and operational success to identify exceptional entrepreneurs and join them in building a new generation of breakthrough technology and life sciences companies.


Source: Cornelis Networks

Subscribe to HPCwire's Weekly Update!

Be the most informed person in the room! Stay ahead of the tech trends with industy updates delivered to you every week!

Nvidia Touts Strong Results on Financial Services Inference Benchmark

February 3, 2023

The next-gen Hopper family may be on its way, but that isn’t stopping Nvidia’s popular A100 GPU from leading another benchmark on its way out. This time, it’s the STAC-ML inference benchmark, produced by the Securi Read more…

Quantum Computing Firm Rigetti Faces Delisting

February 3, 2023

Quantum computing companies are seeing their market caps crumble as investors patiently await out the winner-take-all approach to technology development. Quantum computing firms such as Rigetti Computing, IonQ and D-Wave went public through mergers with blank-check companies in the last two years, with valuations at the time of well over $1 billion. Now the market capitalization of these companies are less than half... Read more…

US and India Strengthen HPC, Quantum Ties Amid Tech Tension with China

February 2, 2023

Last May, the United States and India announced the “Initiative on Critical and Emerging Technology” (iCET), aimed at expanding the countries’ partnerships in strategic technologies and defense industries across th Read more…

Pittsburgh Supercomputing Enables Transparent Medicare Outcome AI

February 2, 2023

Medical applications of AI are replete with promise, but stymied by opacity: with lives on the line, concerns over AI models’ often-inscrutable reasoning – and as a result, possible biases embedded in those models Read more…

Europe’s LUMI Supercomputer Has Officially Been Accepted

February 1, 2023

“LUMI is officially here!” proclaimed the headline of a blog post written by Pekka Manninen, director of science and technology for CSC, Finland’s state-owned IT center. The EuroHPC-organized supercomputer’s most Read more…

AWS Solution Channel

Shutterstock 2069893598

Cost-effective and accurate genomics analysis with Sentieon on AWS

This blog post was contributed by Don Freed, Senior Bioinformatics Scientist, and Brendan Gallagher, Head of Business Development at Sentieon; and Olivia Choudhury, PhD, Senior Partner Solutions Architect, Sujaya Srinivasan, Genomics Solutions Architect, and Aniket Deshpande, Senior Specialist, HPC HCLS at AWS. Read more…

Microsoft/NVIDIA Solution Channel

Shutterstock 1453953692

Microsoft and NVIDIA Experts Talk AI Infrastructure

As AI emerges as a crucial tool in so many sectors, it’s clear that the need for optimized AI infrastructure is growing. Going beyond just GPU-based clusters, cloud infrastructure that provides low-latency, high-bandwidth interconnects and high-performance storage can help organizations handle AI workloads more efficiently and produce faster results. Read more…

Intel’s Gaudi3 AI Chip Survives Axe, Successor May Combine with GPUs

February 1, 2023

Intel's paring projects and products amid financial struggles, but AI products are taking on a major role as the company tweaks its chip roadmap to account for more computing specifically targeted at artificial intellige Read more…

Quantum Computing Firm Rigetti Faces Delisting

February 3, 2023

Quantum computing companies are seeing their market caps crumble as investors patiently await out the winner-take-all approach to technology development. Quantum computing firms such as Rigetti Computing, IonQ and D-Wave went public through mergers with blank-check companies in the last two years, with valuations at the time of well over $1 billion. Now the market capitalization of these companies are less than half... Read more…

US and India Strengthen HPC, Quantum Ties Amid Tech Tension with China

February 2, 2023

Last May, the United States and India announced the “Initiative on Critical and Emerging Technology” (iCET), aimed at expanding the countries’ partnership Read more…

Intel’s Gaudi3 AI Chip Survives Axe, Successor May Combine with GPUs

February 1, 2023

Intel's paring projects and products amid financial struggles, but AI products are taking on a major role as the company tweaks its chip roadmap to account for Read more…

Roadmap for Building a US National AI Research Resource Released

January 31, 2023

Last week the National AI Research Resource (NAIRR) Task Force released its final report and roadmap for building a national AI infrastructure to include comput Read more…

PFAS Regulations, 3M Exit to Impact Two-Phase Cooling in HPC

January 27, 2023

Per- and polyfluoroalkyl substances (PFAS), known as “forever chemicals,” pose a number of health risks to humans, with more suspected but not yet confirmed Read more…

Multiverse, Pasqal, and Crédit Agricole Tout Progress Using Quantum Computing in FS

January 26, 2023

Europe-based quantum computing pioneers Multiverse Computing and Pasqal, and global bank Crédit Agricole CIB today announced successful conclusion of a 1.5-yea Read more…

Critics Don’t Want Politicians Deciding the Future of Semiconductors

January 26, 2023

The future of the semiconductor industry was partially being decided last week by a mix of politicians, policy hawks and chip industry executives jockeying for Read more…

Riken Plans ‘Virtual Fugaku’ on AWS

January 26, 2023

The development of a national flagship supercomputer aimed at exascale computing continues to be a heated competition, especially in the United States, the Euro Read more…

Leading Solution Providers

Contributors

SC22 Booth Videos

AMD @ SC22
Altair @ SC22
AWS @ SC22
Ayar Labs @ SC22
CoolIT @ SC22
Cornelis Networks @ SC22
DDN @ SC22
Dell Technologies @ SC22
HPE @ SC22
Intel @ SC22
Intelligent Light @ SC22
Lancium @ SC22
Lenovo @ SC22
Microsoft and NVIDIA @ SC22
One Stop Systems @ SC22
Penguin Solutions @ SC22
QCT @ SC22
Supermicro @ SC22
Tuxera @ SC22
Tyan Computer @ SC22
  • arrow
  • Click Here for More Headlines
  • arrow
HPCwire