About Tenstorrent
Tenstorrent is a company based in Toronto (Canada) founded in 2016 by Ivan Hamer and Milos Trajkovic.. Tenstorrent has raised $1.18 billion across 10 funding rounds from investors including Fidelity Investments, Kia and LG. The company has 36 employees as of March 26, 2024. Tenstorrent has completed 1 acquisition, including Blue Cheetah. Tenstorrent offers products and services including Blackhole™, TT-QuietBox, and TT-Forge™. Tenstorrent operates in a competitive market with competitors including Rambus, Tsinghua Unigroup, Flex Logix, Lightmatter and Ambarella, among others.
- Headquarter Toronto, Canada
- Employees 36 as on 26 Mar, 2024
- Founders Ivan Hamer, Milos Trajkovic
- Stage Unicorn
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Tenstorrent India Private Limited
- Date of Incorporation 28 Apr, 2022
- Jurisdiction Bangalore North, Karnataka, India
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Annual Revenue
$2.72 M (USD)0as on Mar 31, 2023
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Net Profit
$247.43 K (USD)0as on Mar 31, 2023
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EBITDA
$406.44 K (USD)0as on Mar 31, 2023
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Total Equity Funding
$1.18 B (USD)
in 10 rounds
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Latest Funding Round
$693 M (USD), Series D
Dec 02, 2024
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Investors
Fidelity Investments
& 20 more
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Employee Count
36
as on Mar 26, 2024
- Investments & Acquisitions
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Products & Services of Tenstorrent
Tenstorrent offers a comprehensive portfolio of products and services, including Blackhole™, TT-QuietBox, and TT-Forge™. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Hardware for efficient processing of massive AI workloads
Integrated system with AI chip for optimized computing
Tool for optimizing AI workloads on hardware platforms
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Funding Insights of Tenstorrent
Tenstorrent has successfully raised a total of $1.18B across 10 strategic funding rounds. The most recent funding activity was a Series D round of $693 million completed in December 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 10
- Last Round Series D — $693.0M
- First Round First Round
- Investors Count 21
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2024 | Amount | Series D - Tenstorrent | Valuation | Samsung Securities , AFW Partners | |
| Aug, 2023 | Amount | Series C - Tenstorrent | Valuation | Hyundai Motor Group , Samsung Catalyst Fund | |
| Jun, 2021 | Amount | Debt – Conventional - Tenstorrent | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Tenstorrent
Tenstorrent has secured backing from 21 investors, including institutional and venture fund investors. Prominent investors backing the company include Fidelity Investments, Kia and LG. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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A global investment company based in Seoul, South Korea, is operated.
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Founded Year | Domain | Location | |
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Early-stage tech investments are made in US and Taiwan startups.
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Founded Year | Domain | Location | |
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Investment management and philanthropic ventures linked to Bezos Expeditions.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Tenstorrent
Tenstorrent has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Blue Cheetah. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Design tools for IC synthesis are provided by Blue Cheetah.
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2018 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Tenstorrent
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Tenstorrent Comparisons
Competitors of Tenstorrent
Tenstorrent operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Rambus, Tsinghua Unigroup, Flex Logix, Lightmatter and Ambarella, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
AI-based silicon IP and chip solutions are developed and licensed.
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| domain | founded_year | HQ Location |
Semiconductor solutions are provided for cellular and connectivity markets.
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| domain | founded_year | HQ Location |
Provider of a reconfigurable computing company that provides embedded FPGA (eFPGA) IP, architecture, and software to enable flexible and efficient computing solutions for a wide range of industries
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3D-stacked photonic chips for AI computing are developed.
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| domain | founded_year | HQ Location |
AI-enabled image processors are manufactured for ADAS and security applications.
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| domain | founded_year | HQ Location |
Provider of AI and cloud-based vision processing units for video analytics applications
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| Company Name | Domain | Founded year | HQ Location | Description |
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Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Tenstorrent
Frequently Asked Questions about Tenstorrent
When was Tenstorrent founded?
Tenstorrent was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Tenstorrent located?
Tenstorrent is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Who is the current CEO of Tenstorrent?
Jim Keller is the current CEO of Tenstorrent.
Is Tenstorrent a funded company?
Tenstorrent is a funded company, having raised a total of $1.18B across 10 funding rounds to date.
How many employees does Tenstorrent have?
As of Mar 26, 2024, the latest employee count at Tenstorrent is 36.
What is the annual revenue of Tenstorrent?
Annual revenue of Tenstorrent is $2.72M as on Mar 31, 2023.
What does Tenstorrent do?
Tenstorrent was founded in 2016 in Toronto, Canada, within the AI hardware sector. Processor ASICs tailored for deep learning and artificial intelligence applications are engineered by the company. Programmable software is integrated with this hardware, enabling scalability from battery-powered IoT devices to expansive cloud servers. Cloud-based processing units are also supplied to support AI workloads across various scales.
Who are the top competitors of Tenstorrent?
Tenstorrent's top competitors include Lightmatter, Ambarella and Preferred Infrastructure.
What products or services does Tenstorrent offer?
Tenstorrent offers Blackhole™, TT-QuietBox, and TT-Forge™.
How many acquisitions has Tenstorrent made?
Tenstorrent has made 1 acquisition, including Blue Cheetah.
Who are Tenstorrent's investors?
Tenstorrent has 21 investors. Key investors include Fidelity Investments, Kia, LG, EPIQ, and Baillie Gifford.
What is Tenstorrent's valuation?
The valuation of Tenstorrent is $1B as of May 2021.