Quilter raises $10 million for AI-powered circuit board design, led by Benchmark

FILE PHOTO: AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

SAN FRANCISCO (Reuters) - Circuit board design startup Quilter announced on Tuesday it raised $10 million, saying it would use artificial intelligence to reduce the time to design components that power electronics in rockets, computers, smartphones and other devices.

The $10 million Series A round was led by one of Silicon Valley's most storied venture capital firms, Benchmark, which made early bets on eBay, Uber, Snap and Meta Platforms' Instagram. The company did not disclose the valuation.