# Modal Labs: physical AI company

Canonical ID: `626d803e-6ce4-42a1-a69e-76fc79f356bf`

## Key facts

- **Founders:** [Erik Bernhardsson](/people/erik-bernhardsson.md) (CEO) and [Akshat Bubna](/people/akshat-bubna.md)
- **Headquarters:** New York (233 Spring St); additional offices in San Francisco and Stockholm
- **Series A:** $16M led by Redpoint Ventures, October 2023; Amplify Partners led the seed
- **Reported 2026 valuation talks:** In talks to raise at a $2.5B valuation per The Information, February 2026; round terms not confirmed
- **Announced hourly pricing (on-demand):** B300 $7.10/hr; B200 $6.25/hr; H200 SXM $4.54/hr; H100 SXM5 $3.95/hr; A100 80GB $2.50/hr; L40S $1.95/hr; A10 $1.10/hr; T4 $0.59/hr
- **Silicon partner:** Nvidia-only fleet across T4, L4, A10, L40S, A100 (40/80GB), RTX PRO 6000, H100, H200, B200, B300
- **Positioning:** Serverless per-second GPU billing for inference, fine-tuning, and batch AI workloads; mid-market and long-tail rather than hyperscale training
- **Infrastructure model:** Software layer over rented GPU capacity rather than owned campuses; no disclosed MW footprint
- **Named customers:** Suno, Runway, Physical Intelligence, Cognition, Lovable, Decagon, Ramp, Substack, Quora, DoorDash, Chai Discovery, Reducto, Applied Compute; Meta and Scale listed as users
- **Public/private status:** Private

- **Slug:** modal-labs
- **Status:** active
- **Founded:** 2021
- **HQ:** New York, NY, USA
- **Funding total (USD):** 16000000

## Models

_No models registered._

## Current leadership (2)

- [Erik Bernhardsson](/people/erik-bernhardsson.md) Co-founder and CEO (_reported, not verified_)
- [Akshat Bubna](/people/akshat-bubna.md) Co-founder (_reported, not verified_)

## Supplies to

_No verified supply relationships on file. Supply-chain coverage is being added across the registry; check back as the seed populates this company's outbound edges._

_Outbound supply edges. Each appears when verified with at least two strong sources. Sources are append-only; corrections add new sources rather than rewrite history._

## Common questions

### What is Modal Labs?

Modal Labs is a serverless GPU cloud built for AI and data workloads, letting developers spin up containerized functions on Nvidia hardware billed by the CPU cycle rather than by the reserved instance. Founded in 2021 by Erik Bernhardsson (formerly of Spotify and Better.com) and Akshat Bubna, the company sits in the mid-market inference and fine-tuning slice of the neocloud landscape, competing less with the hyperscale training clouds like CoreWeave and Crusoe and more with Replicate, Baseten, and RunPod for the developer-facing long tail.\n\nRather than owning campuses, Modal operates as a software layer over rented GPU capacity, with a proprietary container stack that advertises sub-second cold starts and per-second billing. Its published on-demand rate card runs from $0.59/hr on a T4 up to $6.25/hr on a B200 and $7.10/hr on a B300, and its customer roster leans toward the current generation of AI-native startups: Suno, Runway, Physical Intelligence, Cognition, Lovable, Decagon, Ramp, and Substack all appear as named users, alongside Meta and Scale.\n\nAfter a $16M Series A led by Redpoint in October 2023, Modal was reported by The Information in February 2026 to be in talks to raise at a $2.5B valuation, a step-change that would put it in the mid-tier of the AI-infrastructure funding board without the balance-sheet weight of the campus-owning neoclouds.

### What does Modal Labs make?

Modal Labs has no robot models recorded on the DEPLOY registry. Modal Labs builds physical robots.

### Is Modal Labs publicly traded?

No. Modal Labs is privately held and not publicly traded, per the DEPLOY registry.

### How can I invest in Modal Labs?

Modal Labs is a private company; its shares are not available on public markets, so retail investors cannot buy the stock today. It has raised $16M in disclosed funding.

### Where is Modal Labs headquartered?

Modal Labs is headquartered in New York, NY, USA.

### How much funding has Modal Labs raised?

Modal Labs has raised approximately $16M in disclosed funding on record in the DEPLOY registry.

### Who owns Modal Labs?

Modal Labs is privately held and venture-backed ($16M raised); ownership sits with its founders and private investors.

### Is Modal Labs a top robotics company?

On DEPLOY's intelligence score, which blends verified deployments, funding, hiring, media, safety, and IP signals, Modal Labs ranks in roughly the top 98% of companies tracked by the registry.


## Sources (6)

1. https://modal.com/blog/general-availability-and-series-a
2. https://modal.com/pricing
3. https://modal.com/company
4. https://modal.com/customers
5. https://techcrunch.com/tag/modal-labs/
6. https://www.theinformation.com/

## The verified answers

- [Which companies have the most robots deployed](/which-companies-have-the-most-robots-deployed.md)
- [Which operators run the most robots](/which-operators-run-the-most-robots.md)
- [Which robot operators cover the most countries](/which-robot-operators-cover-the-most-countries.md)

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