Velaura AI Raises $110M After Auradine Rebrand, Bitcoin Miner Pivot

Including the new round, Auradine and Velaura have announced at least $424 million of financing. The company didn’t explain why the latest investment is being called a Series A after the earlier Series A, B and C rounds. It is the first announced financing since the Velaura rebrand and the shift to an AI-centered strategy.

Auradine was founded in 2022 and initially built its business around Teraflux bitcoin miners, seeking to challenge an equipment market dominated by Asian manufacturers including Bitmain and MicroBT. Its portfolio expanded to air-, hydro- and immersion-cooled systems powered by an internally designed 3-nanometer application-specific integrated circuit, or ASIC.

By April 2025, Auradine said its Teraflux equipment had been deployed by more than 40 bitcoin data center operators. A month later, it was still expanding the product line with ASIC sales, reference designs and modular mining containers.

That strategy changed direction in March 2026, when Auradine adopted the Velaura name and said it would apply its low-voltage chip expertise to cloud, edge and “physical AI,” a category that includes robots, drones and autonomous machines. It brought in Nuvia co-founder and former Apple and Google engineer Manu Gulati as chief development officer and named UCLA professor Aditya Grover as an adviser.