AI startup Modular raises $100 million in General Catalyst-led funding

AI startup Modular said on Thursday it had raised $100 million in a new funding round, led by venture capital firm General Catalyst, with participation from existing investors Google Ventures, SV Angel, Greylock and Factory.

Modular is among a clutch of AI startups that have benefited from a boom in the hi-tech sector following the runaway success of ChatGPT, attracting strong interest from venture capital firms and other investors.