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Modal

AI · New York, US · modal.com

AI-native cloud infrastructure platform with custom-built runtime for scaling AI workloads.

Founders

Erik Bernhardsson (Sweden · ♂) — After seven years building Spotify's recommendation system and serving as CTO at Better.com, this IOI gold medalist saw that existing cloud infrastructure was poorly suited for data teams and founded Modal in 2021 to fix it.
Akshat Bubna (India · ♂) — An IOI gold medalist and early engineer at Scale AI, he joined Erik Bernhardsson in 2021 as Modal's co-founder and CTO to build serverless infrastructure for AI and data workloads.

Date	Round	Amount
Oct 2025	Series B Modal closed an $87 million Series B led by Lux Capital, reaching a $1.1 billion valuation.	$87M

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