The investment into the company, which specialises in processors made predominantly for AI and machine learning, will be used to boost its Silicon Valley office. Sequoia's round comes just four months after Graphcore raised a $30 million Series B round led by Atomico.
The deal reaffirms two key facets that have defined European VC investing this year. On the one hand, it highlights the importance of foreign investors in Europe when it comes to larger deals, following rounds such as the $502 million SoftBank-led Improbable deal.
On top of this, it also highlights the rise in UK VC deal sizes. Indeed, despite the hefty fundraise, Graphcore's $50 million round just barely scrapes into the 20-largest UK VC deals this year, per the PitchBook Platform.
Want to know more about Graphcore, including its cap table and funding history? Check out its free profile.