Modular Raises $30 Million After Modular.com Upgrade – Domain Name Wire

The AI ​​company acquired the domain name of Reflex Publishing.

Modular started with modular.ai but acquired the corresponding .com.

2021 was a banner year for the AI ​​industry, with a 108% year-over-year increase in global funding that brought AI company funding to over $66 billion . It also saw a 442% increase in AI companies with a valuation of $1 billion or more.

Interest in artificial intelligence appears to have continued into 2022, with companies such as Shield AI and Observe.ai each raising 9-figure funding rounds.

One company to consider is Modular, which raised $30 million in seed funding at the end of June 2022. This is the company’s first disclosed funding round after launching in January this year.

The company is run by former Google employees Chris Lattner and Tim Davis, who hijacked talent from top tech companies like Google, Microsoft and Intel. The Modular team is building what they describe as a next-generation AI development platform.

Months before disclosing its funding, Modular got its exact .com match, Modular.com.

Initially, the startup launched on Modular.ai. For many AI companies, a .ai domain would be perfect for the long term. Shield AI and the aforementioned Observe.ai, for example, both operate on .ai domains.

However, Modular has taken the lead in securing Modular.com. The acquisition took place around April 2022 and was the first Point by Elliot Silver of DomainInvesting.com. Modular.com was taken from the portfolio of Reflex Publishing, a company that manages a portfolio filled with ultra-premium domain names, including Reflex.com, High.com and Train.com.

Reflex is known to say its domains aren’t for sale, but it makes exceptions when the right offer comes along. For example, Reflex Media sold clubhouse.com to the Clubhouse audio app in 2021.

For Modular, Modular.com provides the ideal digital foundation for business growth. Committing early funding to a domain name may not have been easy for Modular, but it will pay for itself over the lifecycle of the business.