New York-headquartered AI startup Modal Labs to open London office
US AI infrastructure startup Modal Labs is opening a London office, marking the latest North American AI firm to invest in bricks and mortar in London or up their presence in the capital.New York–head...
New York-based AI infrastructure startup Modal Labs is set to expand its presence in London by opening a new office. This move comes as part of a growing trend of North American AI firms investing in London, with recent announcements from AI giants OpenAI, Anthropic, Cursor, and Cohere. Modal Labs, founded in 2021, specializes in providing computing infrastructure for AI workloads, focusing on AI inference, as opposed to AI training.
The company currently employs around 170 people across its offices in New York, San Francisco, and Sweden.
The Marble Arch area of London will host Modal Labs' new office, which can accommodate up to 40 workers. The company plans to have all its London staff in place by early September. This expansion follows Modal Labs' recent $355 million financing round, conducted in May, which valued the company at $4.65 billion. The investment, led by Redpoint Ventures and General Catalyst, surpassed Modal Labs' valuation from eight months prior, which stood at $1.1 billion.
Modal Labs' CEO, Erik Bernhardsson, expressed his commitment to the European market, stating that the company has been transatlantic since its inception, with offices in New York, San Francisco, and Stockholm. He emphasized the significance of the new London office as part of Modal Labs' strategy to support European companies in achieving scale.
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