Swedish entrepreneur Erik Bernhardsson recently achieved star status in the tech world as his AI firm Modal was valued at nearly 160 billion kronor. He remains unfazed by the high valuation and even bought software stocks when markets fell earlier in the year.
The article highlights that veteran entrepreneurs and serial founders are dominating recent funding rounds in early October, noting that former Spotify engineer Erik Bernhardsson has secured a multi‑billion investment for his AI startup Modal.
US AI infrastructure startup Modal Labs, founded in 2021, announced the opening of its first European office in London, expanding its transatlantic presence after a $355 million financing round led by Redpoint Ventures and General Catalyst.