Nscale Secures £122m to Expand AI Infrastructure
Deal News | Dec 10, 2024 | Business Cloud
Nscale, a London-based company, has raised £122 million in a Series A funding round led by Sandton Capital Partners. The funding will be used to scale its AI infrastructure across Europe and North America to meet increasing demand for AI services. Additional investors include Kestrel 0x1, Blue Sky Capital Managers Ltd, and Florence Capital. Nscale, which was launched in stealth mode in May 2024, offers AI-ready data centers and cloud services, allowing for high-performance AI workloads and model training. The company is expanding its data center capacity from 300MW to 1.3GW by 2025 and is also planning to introduce a public cloud service in the first quarter of 2025. CEO Joshua Payne highlighted the firm's capacity to deliver bespoke AI infrastructure on a global scale, addressing the critical need for substantial electricity to power GPU clusters. Nscale previously secured $30 million in seed funding in December 2023. The company has established a partnership with Open Innovation AI in MENA, aiming to deploy 30,000 GPUs over the next three years.
Sectors
- Artificial Intelligence
- Data Centers
- Cloud Computing
- Venture Capital
Geography
- United Kingdom – Nscale is a London-based firm, indicating its primary location and possibly where the funding announcement was made.
- Europe – Nscale is expanding its AI infrastructure and data centers across Europe, as mentioned in their growth plans.
- North America – Nscale is also focused on scaling its infrastructure within North America, part of its international expansion strategy.
- Middle East and North Africa (MENA) – Nscale has a partnership in the MENA region, aiming to deploy GPUs as part of its growth strategy.
Industry
- Artificial Intelligence – Nscale provides infrastructure for AI services, focusing on high-performance workloads and model training.
- Data Centers – Nscale designs and develops AI-ready data centers, expanding its capacity significantly across multiple regions.
- Cloud Computing – Nscale offers private and public cloud services that cater to the AI lifecycle, including AI model training and inferencing.
- Venture Capital – The article discusses a Series A funding round involving multiple venture capital firms investing in Nscale's growth.
Financials
- £122 million – The total amount raised by Nscale in the Series A funding round.
- $30 million – The amount previously raised by Nscale in December 2023 in seed funding.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nscale | Target | Company | A London-based firm specializing in AI-ready data centers and cloud services. |
| Sandton Capital Partners | Lead Investor | Company | The lead investor in Nscale's Series A funding round, focusing on AI and technology investments. |
| Kestrel 0x1 | Investor | Company | A participant investor in Nscale's Series A funding round. |
| Blue Sky Capital Managers Ltd | Investor | Company | A participant investor in Nscale's Series A funding round. |
| Florence Capital | Investor | Company | A participant investor in Nscale's Series A funding round. |
| Joshua Payne | CEO | Person | The CEO of Nscale, responsible for overseeing the company's expansion and strategy. |
| Open Innovation AI | Partner | Company | A GPU orchestration platform partnering with Nscale in the MENA region. |
| Rael Nurick | Co-founder | Person | Co-founder at Sandton Capital Partners, involved in the investment decision for Nscale. |