📝 Ollama raises $65M

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Palo Alto-based open-source AI infrastructure startup Ollama has raised $65 million in Series B funding led by Theory Ventures, with participation from Benchmark, Y Combinator, Garage Capital, and GTMfund, bringing its total funding to $88 million. Founded in 2023 by former Kitematic creators Jeff Morgan and Michael Chiang, the 14-person company develops software that enables developers to download and run open-source large language models locally on their own devices. Ollama claims its platform has reached nearly nine million users and is used by 85% of the Fortune 500, with plans to deploy the new capital toward expanding its computing infrastructure, hiring key talent, and accelerating product development.

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