London-based Oriole Networks Secures €20.2 Million to Revolutionize…

Team S · 2024-10-28T12:55:33.000Z

Oriole Networks, a London-based startup, has successfully raised €20.2 million in funding to advance its innovative solution for reducing energy consumption in AI data centers. The company's groundbreaking technology utilizes light and advanced photonics to create networks of AI chips, enabling Large Language Models (LLMs) to be trained up to 100 times faster while significantly reducing power consumption. The funding round was led by Plural, with participation from existing investors including UCL Technology Fund, XTX Ventures, Clean Growth Fund, and Dorilton Ventures. Ian Hogarth from Plural will join Oriole's board to support the company's growth. Founded in 2023 out of University College London (UCL), Oriole Networks brings together pioneering optical network science with entrepreneurial expertise. The company was established by CEO James Regan, along with founding scientists Professor George Zervas, Alessandro Ottino, and Joshua Benjamin. Oriole's technology addresses the growing concern of AI's energy consumption. For context, a single ChatGPT query reportedly uses more than 25 times the energy of a Google search, according to Stanford University research. With AI computing power doubling every 100 days and projected to increase by over a million times in the next five years, Oriole's solution comes at a critical time. The recent funding brings Oriole Networks' total raised capital to $35 million this year. The company plans to use these funds to expand its team and engage with high-volume suppliers, aiming to have early-stage products in customers' hands by 2025.

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London-based Oriole Networks Secures €20.2 Million to Revolutionize… | Newnex