Quadric secures $46M Series C extension with World Bank’s IFC leading the second close, signaling rising multilateral backing for private AI hardware
Executive summary: Quadric closed a second close of its Series C round, raising a total of $46 million with the World Bank’s IFC as lead investor, while earlier backers Pear VC, Uncork Capital and BEENEXT increased their stakes. The deal demonstrates growing interest from multilateral development banks in financing private AI hardware companies and points to a market opportunity where hyperscale data centers fall short of specific AI workloads.
Who is involved: Quadric, World Bank’s IFC, and prior investors Pear VC, Uncork Capital, BEENEXT.
Likely next: Quadric will allocate the capital to advance production of its AI inference chip and expand engagements with government and industry AI projects; the IFC will monitor the investment’s alignment with its environmental and social standards.
Quadric’s Series C round has now reached $46 million after the World Bank’s International Finance Corporation led a second close, marking a notable instance of a multilateral development institution taking a lead role in a private AI‑hardware venture. Existing backers Pear VC, Uncork Capital and BEENECT increased their commitments, indicating that the original investor group remains confident in the company’s trajectory despite the broader volatility in semiconductor financing. The participation of the IFC suggests that development finance agencies are beginning to view specialized AI chips as a potential tool for supporting digital transformation in sectors where hyperscale data‑center solutions are less applicable, such as edge computing in emerging markets or government‑backed AI initiatives. This could broaden Quadric’s addressable market beyond traditional cloud providers and encourage partnerships with public‑sector projects that require low‑power, domain‑specific processors. In the near term, the fresh capital is likely to be directed toward advancing Quadric’s chip architecture, expanding its engineering team, and pursuing early‑stage customer engagements that align with the IFC’s focus on inclusive digital growth. Should these efforts translate into tangible product milestones, the company may strengthen its position in the niche of AI accelerators tailored for constrained environments, potentially attracting further interest from both private and public investors.
Timeline
- — Quadric Extends Series C to $46M with Second Close led by World Bank's IFC (PR Newswire)
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