-85%

est. 2Y upside i

AI & MLSeries B

Our efficient systems-level AI infrastructure enables a tenfold improvement in both training and inferencing of the largest generative models. Leveraging these capabilities, Decart is able to train its own foundational generative interactive models and make it accessible for everyone in real-time.

Rank

#3928

Sector

AI Infrastructure

Est. Liquidity

~3Y

Data Quality

Data: Low

Decart's $4B valuation on $12.6M ARR implies a 317x revenue multiple, far above public comps.

Last updated: July 3, 2026

Bull (25%)-71%

Bull case assumes exit multiple of 40x (IPO window) on $29.2M revenue, yielding $1.17B exit, a 70.8% loss. Requires sustained hypergrowth and timely IPO.

Base (35%)-78%

Base case converges to 30x public comp multiple, exit $877M, a 78.1% loss. Revenue growth fails to justify the $4B valuation.

Bear (40%)-100%

Bear case multiple compresses to 15x, exit $438M below $453M preferred stack, common stock recovers -100%. Further capital raise or acquisition below threshold.

Est. time to liquidity~3.0 years

Preference Stack Risk

moderate

Funding Intensity

11%

Total preferred stack of $453M represents 11.3% of valuation, providing moderate downside protection for investors but little for common stock in a downside scenario.

Dilution Risk

low

Recent $300M raise provides runway for 2+ years; no near-term dilution expected.

Secondary Liquidity

moderate

Secondary market trades at $3.96B (99% of round valuation), indicating some liquidity for existing shareholders.

Questions to Ask at the Interview

Strategic questions based on Decart's data — designed to show you've done your homework.

  • 1

    “How does Decart plan to differentiate from Nvidia's Cosmos platform, which controls both hardware and software?”

  • 2

    “What is the unit economics of the DOS stack and how does it scale with customer adoption?”

  • 3

    “Given the high valuation, what is the typical dilution for employees and what liquidity events are anticipated in the next 2-3 years?”

Community

Valuation Sentiment

Our model estimates -85% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.