AlphaICs Bags $8 Mn In Series B Round Led By Emerald Technology Ventures and Endiya Partners
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Artificial Intelligence-driven AlphaICs announced raising of $8 million funding in its Series B round. Emerald Technology Ventures and Endiya Partners led the round along with the participation of existing investors such as ReBright Partners and 3One4 Capital, and others.
The company designs and develops high-performance AI Chips for Edge Computing.
The startup will be utilizing the fresh funds to tape-out the Gluon AI chip, develop the software stack and to build system solutions for its target markets.
Founded in 2016 by Pradeep Vajram and Prashant Trivedi, the startup develops edge inference and edge learning technologies to enable AI at the edge. The company claims that its next-generation AI architecture, called Real AI Processor (RAPTM), provides highest performance, low power, and minimal latency, thus enabling ‘best-in-class’ edge AI inference processing.
Commenting on the investment, Michal Natora, investment director at Emerald Technology Ventures said, “The differentiated technology and the high calibre team led by Pradeep Vajram were two key criteria driving Emerald’s investment.”
“While NVidia, Google, and Startups like Graphcore are poised to dominate DataCenter AI, AlphaICs has the opportunity to be a market leader in enabling AI at the Edge,” said Sateesh Andra, managing director with Endiya Partners added.
Pradeep Vajram, chairman and chief executive officer of AlphaICs said the funding will help them to bring their first inference co-processor to the market for vision applications with low latency requirements.
“We are also working with strategic partners to bring innovative solutions to the Industrial, Automotive, and Surveillance markets,” he concluded.