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Oriole Networks raises a further $22m

Deeptech UCL Tech Fund

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Oriole Networks, a company leveraging advanced photonics technology to address AI’s energy consumption and speed issues, has raised an additional $22 million in funding to further scale its innovative solution. This funding round was led by Plural and included reinvestment from us via the UCL Technology Fund, XTX Ventures, Clean Growth Fund, and Dorilton Ventures. Oriole’s technology, which uses light to create AI chip networks, enables Large Language Models (LLMs) to be trained up to 100 times faster while significantly reducing energy consumption. This approach addresses the increasing energy demand of data centers, which could lead to a 56% increase in emissions by 2035 if renewable energy installations lag behind.

Founded in 2023 as a spin-out from University College London (UCL), Oriole Networks is built on over two decades of pioneering research in optical networks by scientists Professor George Zervas, Alessandro Ottino, and Joshua Benjamin. Led by CEO James Regan, who previously founded EFFECT Photonics, Oriole’s experienced commercial team aims to solve the growing sustainability challenges in AI. Ian Hogarth, from Plural, will join the board to support the company’s scaling efforts.

Within a year, Oriole has assembled a top-tier team of photonics experts, including members from Lumentum, and formed partnerships with professionals operating leading GPU clusters. This allows for rapid feedback on infrastructure challenges related to high-performance computing.

The company’s focus is on reducing the energy footprint of AI, which is growing exponentially. A recent report highlighted that ChatGPT alone consumes enough energy to power Gibraltar for a year. Oriole’s technology aims to meet this rising demand for AI without further environmental damage. The new funding, which brings Oriole’s total raised to $35 million, will support team expansion and engagement with high-volume suppliers. The company aims to have early-stage products ready for customers by 2025, establishing an ecosystem of photonic networking for AI.

James Regan, CEO of Oriole Networks, said: “This funding is yet another milestone for Oriole following a year of rapid pace and growth. This is a booming market desperate for solutions and our ambition is to create an ecosystem of photonic networking that can reshape this industry by solving today’s bottlenecks and enabling greater competition at the GPU layer. Building on decades of research, we’re paving the way for faster, more efficient, more sustainable AI.”

Ian Hogarth, Partner at Plural, said: “Applying 20 years of deep research and learning in photonics to create a better AI infrastructure demonstrates how much more innovation there is to come to help reap the benefits of this technology. The team behind Oriole Networks have proven experience in both company building and bringing deep science to commercialisation and are creating a fundamental shift in the design of next generation networked systems that will reduce latency and slash the energy impact of data centres on which we now rely.”

“As innovation in the AI space continues at pace, the work Oriole Networks is doing to build a sustainable AI future is critically important. It’s been incredible to see the progress James and the team have made so far, from amazing research at UCL to a business powering the future within  such a short timeframe. The solution Oriole Networks provides is vital to ensuring innovation doesn’t come at the cost of our planet, and we’re proud to continue supporting this forward-thinking business.”

David Grimm, Partner at AlbionVC

Fortune has more here.

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