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Auradine Secures $80 Million to Expand Presence in Blockchain and AI Industries
Bitcoin mining equipment manufacturer Auradine has successfully raised $80 million in a Series B funding round to further establish its footprint in the blockchain, security, and artificial intelligence sectors.
Investors in the Funding Round
The funding round witnessed participation from a mix of new investors such as StepStone Group, Top Tier Capital Partners, MVP Ventures, and Maverick Capital, alongside key strategic and angel investors. Existing investors like Celesta Capital, Mayfield Fund, and Marathon Digital also contributed to the funding.
Oversubscribed Funding Round
Originally targeting $70 million, Auradine’s Series B funding round was oversubscribed, resulting in a total of $80 million raised, as confirmed by co-founder and CEO Rajiv Khemani.
Mayfield Fund managing partner Navin Chaddha praised Auradine’s rapid growth and success, emphasizing the company’s innovative solutions and execution capabilities.
Continued Growth and Achievements
Auradine, known for its Teraflux family of Bitcoin ASIC Miners, has gained significant traction in the market due to the speed, efficiency, and energy-saving features of its products.
The company’s proprietary EnergyTune and AutoTune technologies have set new standards in energy grid stability and demand response within the blockchain industry.
With $80 million in bookings and a substantial order backlog exceeding $200 million, Auradine is poised for continued expansion and innovation in its global operations.
CEO Rajiv Khemani expressed pride in the team’s accomplishments and highlighted the confidence customers have shown in Auradine’s products.
With the latest funding injection, the company plans to scale up production capacity and invest further in enhancing its product offerings to meet evolving market demands.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
