Naveen Rao is raising $1 billion for his new startup, Unconventional, Inc., which aims for a $5 billion valuation. The company is focused on creating a new type of computer.
Funding and Investors
Andreessen Horowitz is leading the funding round for Rao’s startup, while Lightspeed and Lux Capital are also involved. Rao has already secured hundreds of millions and will start operations before closing the full funding round.
Rao’s previous company, MosaicML, was acquired by Databricks for $1.3 billion. Rao co-founded MosaicML to develop large AI models. His experience also includes co-founding Nervana Systems, sold to Intel in 2016.
Company Vision and Competition
Rao’s new venture aims to compete with Nvidia by creating innovative AI machines that integrate custom silicon chips and server infrastructure. He describes the goal as rethinking computer foundations for efficiency.
Rao publicly confirmed his startup on social media, emphasizing a design inspired by biological efficiencies without their limitations. He envisions advancements that could transform AI technology.
Background and Transition
Before starting Unconventional, Inc., Rao worked as VP of AI at Databricks, which is currently valued at $100 billion. He left the company last month to focus on his new venture.
In addition to venture capitalists, Databricks is reportedly investing in Rao’s new initiative as well. His plans include phased capital raising to support ongoing development.
