- Venture capital Draper Esprit on Tuesday invested a further $12m in Graphcore as part of a $200m series D funding round, valuing the company at $1.7bn.

Following the valuation at which this latest funding round was completed, the fair value of the Draper's investment in Graphcore had increased net asset value per share by approximately 29p a share, the company said.

Graphcore had built a completely new kind of processor and software specifically designed for machine intelligence, the company said.

Other strategic investors in the round included Microsoft and BMW, it added.

At 8:42am: [LON:GROW] Draper Esprit Plc share price was -5p at 540p

Story provided by