US Innovative Technology led a $250m round in Modular.

US Innovative Technology, an investment firm, led a $250m round in Modular, a software company, with participation from DFJ Growth, GV (Google Ventures), General Catalyst and Greylock Ventures. “Strategic AI implementation is the most important competitive factor in today’s economy, and as the public and private sectors ramp up their efforts to remain competitive, the demand for compute power to handle these heavy workloads is greater than ever. Modular is foundational in this new era of diverse AI infrastructure, providing a unified AI compute layer that maximizes efficiency, resilience, and cost reduction - and their platform is already in high demand from enterprises, clouds and developers. We are proud to support the team and their vision for portable AI that will power both the U.S. and global economies,” Thomas Tull, USIT Chairman.