Observed Signal · Mar 10, 2026 · Funding · Source: TechCrunch · Impact: 3/5 · Sentiment: Positive
Eridu Secures $200M to Revolutionize AI Networking
Eridu, an AI networking startup co-founded by Drew Perkins and Omar Hassen, emerged from stealth announcing an oversubscribed $200 million Series A led by Socratic Partners, John Doerr, Matter Venture Partners and others. The company says it has raised $230 million in total. Founded in 2024 after the founders began rethinking networking silicon for AI data centers, Eridu is building switches and chips that move more networking functions on‑chip to reduce hops, latency, power and optical components. The startup intends to sell complete systems that would occupy the networking role in AI data centers currently filled by traditional vendors such as Arista. Other investors named in the round include Hudson River Trading, Capricorn Investment Group, MediaTek, Bosch Ventures, TDK Ventures, Eclipse, SBVA and VentureTech Alliance (TSMC vehicle).
Large Series A ($200M) for a startup aiming to redesign networking silicon and systems for AI data centers; could affect data‑center architecture, chip and optical supply chains and large-scale AI deployments if successful.
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Key Takeaways & Evidence Grounding
- Eridu announced a $200 million Series A round and said it has raised $230 million in total.
- Series A was led by Socratic Partners, with participation from John Doerr, Matter Venture Partners and others.
- Eridu was founded in 2024 by Drew Perkins (co‑founder & CEO) and Omar Hassen (co‑founder) to redesign networking silicon and systems for AI data centers.
- Investors in the round include Hudson River Trading, Capricorn Investment Group, SBVA, MediaTek, Bosch Ventures, TDK Ventures, Eclipse, and VentureTech Alliance (TSMC vehicle).
- Eridu plans to build switches and chips that integrate more networking functionality on‑chip to reduce optics, hops, latency, power and cost, aiming to replace portions of classic data‑center network gear.
Connected Companies & Entities
4 Entities mappedRelated Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Era raises $11M to build AI gadget platform
Era, a startup building a software layer to power AI-driven consumer gadgets, has raised $11 million to date. The company offers an orchestration platform that helps hardware makers create AI agents and manage multimodal inputs, model routing and real-world constraints (connectivity, memory, etc.). Era provides access to over 130 LLMs from more than 14 providers and intends to enable millions of devices while allowing users to choose memory and model providers in a privacy-preserving way. The $11M includes a $9M seed round led by Abstract Ventures and BoxGroup with participation from Collaborative Fund and Mozilla Ventures, plus a $2M pre-seed from Topology Ventures and Betaworks. Era was founded by CEO Liz Dorman, CTO Alex Ollman and CPO Megan Gole and plans to target hardware makers and the open-source/maker community rather than building devices itself.
Dutch AI chip startup EUCLYD raises €200M Series A
Dutch semiconductor startup EUCLYD, based in Eindhoven, has raised over €200 million in a Series A funding round to develop ultra-efficient infrastructure for foundation AI models. The round was co-led by Samsung, Somerset Capital Partners, the EQT-managed Scaleup Europe Fund, and Innovation Industries, with additional participation from EIFO, imec.xpand, Brabant Development Agency (BOM), and Quadri. Peter Wennink, former CEO of ASML, joins as Chairman. Founded in 2024 by Bernardo Kastrup and Atul Sinha, EUCLYD focuses on compute and memory bottlenecks in AI data centers, offering products like 'craftwerk' and 'craftwerk station CWS'. The funding will be used to expand engineering teams, accelerate product development, and target enterprise, government, and hyperscale markets.
Ricursive Intelligence Secures $335M, Aims to Revolutionize Chip Design
Ricursive Intelligence, founded by Anna Goldie (CEO) and Azalia Mirhoseini (CTO), raised a combined $335 million within months of launching: a $35 million seed round led by Sequoia followed by a $300 million Series A at a $4 billion valuation led by Lightspeed. The founders, former Google Brain and Anthropic engineers, previously built the Alpha Chip — an AI tool that produced high-quality chip layouts in hours and helped design multiple generations of Google’s Tensor Processing Units. Ricursive is developing AI-driven software that automates chip design (component placement through verification) and leverages learning across designs and LLMs. The company positions chipmakers such as Nvidia, AMD and Intel as customers (Nvidia is also an investor). The founders say their platform aims to accelerate chip development, improve hardware efficiency, and enable tighter co-evolution of models and chips.
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