Swedish AI firm Modal Labs valuation jumps to $15B in second 2026 VC round

Modal Labs, a Swedish-founded AI company, raised a second venture capital round in 2026, lifting its valuation from 10 to 158 billion kronor (~$15B) in just over a year. The rapid re-rating signals sustained investor appetite for AI infrastructure plays, though the valuation is based on private funding and may not reflect public market conditions.