Fal, a startup that provides computing infrastructure for AI models that generate images, videos, and audio, has raised $1.65 billion across its Series E and Series F funding rounds.
Sequoia Capital led the Series E, which closed earlier this year, while Bessemer Venture Partners led the Series F with chipmaker Nvidia as a strategic investor, Fal said Tuesday.
The startup did not disclose its valuation or the size of each round. Bloomberg reported that the Series F raised $1.3 billion in October at a $16 billion valuation, double the $8 billion valuation from Fal's $350 million Series E in April.
Sound Ventures, HOF Capital and T. Rowe Price also participated in the latest round, according to Bloomberg. Bessemer partner Talia Goldberg will join Fal's board, per the report.
The latest rounds bring Fal's total funding to date to nearly $2 billion. The startup has previously raised a $140 million Series D in December 2025, a $125 million Series C in July 2025 and a $49 million Series B that February. Before those, Fal announced $23 million in combined seed and Series A funding in September 2024, including a $14 million Series A round.
Fal said the latest funding will go toward expanding computing capacity and its team, along with research and further work across its platform in 2027.
The startup is seeing increasing demand for its infrastructure. "We hit a point in summer where we were not able to serve our customers and had to rate limit them," co-founder and CEO Burkay Gur told Bloomberg.
Fal reached $800 million in annualized revenue earlier this year, Bloomberg reported, citing a person familiar with the matter. The startup has 185 employees and plans to expand its team.
What does Fal do?
Founded in 2021 by Gur and Gorkem Yurtseven, San Francisco-based Fal lets developers run AI models for images, videos, audio, and 3D content without managing the servers themselves. Running a trained model is known as inference.
Developers can use models available on Fal or deploy their own. Fal said in Tuesday's announcement that entertainment studios, advertising agencies, online retailers, game developers and marketing teams use its platform to produce content.
In May, Fal announced a partnership with Amazon Web Services. The startup at the time said more than 2.5 million developers used its platform and named Amazon MGM Studios, Canva and Adobe as customers.
Other AI infrastructure startups have also raised large rounds this year. Modal raised $750 million in a Series D at a $15.75 billion post-money valuation in October. Fireworks raised about $1.5 billion in a Series D at a $17.5 billion valuation in July. Both said they had passed $1 billion in annualized revenue run rate.