QumulusAI Corp., a developer of next-generation AI infrastructure solutions, announced the closing of the first tranche of a convertible note financing, raising $15.0 million in gross proceeds as part of a broader financing facility of up to $45.0 million.
The financing was completed pursuant to a convertible note agreement with ATW Capital Partners, providing QumulusAI with flexible growth capital to support its continued expansion while remaining a private company. Additional tranches of up to $30.0 million remain available under the facility, subject to customary conditions.
Net proceeds from the financing will be used to accelerate product development, scale operations, and support strategic initiatives.
Lucosky Brookman LLP served as legal counsel to QumulusAI Corp. in connection with the financing. ATW Capital Partners acted as investor in the transaction. Chardan acted as placement agent.
