Firmus Technologies
About Firmus Technologies
Firmus Technologies is a AI Infrastructure startup based in Sydney, Australia that has raised $12.8B in venture capital across 4 funding rounds since 2019. The company reached Growth stage in September 2025 with a $330M round led by Ellerston Capital. Firmus Technologies's investor base includes 9 institutional funds, with Ellerston Capital leading the most recent equity round.
Firmus Technologies is an Australian AI infrastructure company that designs, builds, owns, and operates large-scale AI data centres — which it calls AI factories — across Australia and the Asia-Pacific region. Founded in 2019 in Sydney by Oliver Curtis, Tim Rosenfield, and Jonathan Levee, the company pivoted from bitcoin mining to AI infrastructure, leveraging the same power engineering and cooling expertise at scale. Firmus operates a vertically integrated model spanning custom hardware design through its proprietary HyperCube platform, grid integration, and GPU cloud services delivery, built entirely on Nvidia's DSX AI Factory Reference Architecture. The company's flagship initiative is Project Southgate — a network of AI factory campuses across Australia. Phase 1 targets Tasmania with a 36,000-GPU campus, with subsequent phases expanding to South Australia and other capitals. Firmus has committed to 100% renewable energy sourcing and water-efficient cooling, positioning itself as a sustainable AI infrastructure provider for enterprise and sovereign AI workloads. Total planned infrastructure investment across Australia exceeds AU$70 billion, with additional development underway in Indonesia and broader Asia-Pacific markets. Firmus's strategic relationship with Nvidia spans equity investment, hardware procurement, and cloud resale: Nvidia joined as an investor in September 2025 and agreed in mid-2026 that Firmus would purchase Nvidia infrastructure and resell GPU cloud services across Asia-Pacific. The company has raised over US$2.8 billion in equity and secured a US$10 billion debt financing facility from Blackstone and Coatue in February 2026 — one of the largest single AI infrastructure financing commitments outside the United States. At its most recent round in August 2026, Firmus was valued at US$10.5 billion.
Firmus Technologies Funding Rounds Timeline
4 rounds · $12.8B raised · since 2019
| Round | Date | Amount | Valuation | Lead investor | Co-investors |
|---|---|---|---|---|---|
| Strategic | September 2025 | $330M | — | Ellerston Capital | Nvidia |
| DebtDebt | February 2026 | $10B | — | Blackstone | Coatue |
| Growth | April 2026 | $505M | $5.5B | Coatue | Nvidia |
| Growth | August 2026 | $2B | $10.5B | Coatue | Nvidia, Blackstone Tactical Opportunities, Jane Street, Regal Funds Management, Ellerston Capital, Archibald Capital, Tectonic Investment Management |
Investors in Firmus Technologies
9 institutional investors across 4 rounds
Lead investors
Co-investors
Recent news about Firmus Technologies
Questions about Firmus Technologies
How much has Firmus Technologies raised?
Firmus Technologies has raised $12.8B across 4 funding rounds since 2019.
Who are the investors of Firmus Technologies?
Firmus Technologies's investors include Ellerston Capital, Coatue, Blackstone, Nvidia, Blackstone Tactical Opportunities, Jane Street, Archibald Capital, Regal Funds Management, Tectonic Investment Management.
When was Firmus Technologies's last funding round?
Firmus Technologies's most recent round was a $330M Strategic in September 2025, led by Ellerston Capital.
What is Firmus Technologies's valuation?
Firmus Technologies reached a $10.5B valuation (unicorn status) with its Strategic round in September 2025.
Where is Firmus Technologies headquartered?
Firmus Technologies is headquartered in Sydney, Australia, and was founded in 2019 by Oliver Curtis, Tim Rosenfield, Jonathan Levee.