NeuroBlade Raised $27 Million for AI Processor

26 June, 2019

The company develops new architecture of Artificial Intelligence processor, aimed to provide a fast general purpose AI execution with no memory bottlenecks

Photo above: NeuroBlade’s Founders, the CEO Elad Sity (right) and the CTO Eliad Hillel. Photo: Keren Gafni

NeuroBlade from Hod-Hashron, Israel has completed a $23 million financing round led by Marius Nacht, Co-founder of Check Point Software Technologies. Other investors in this round were Intel Capital, StageOne Ventures and Grove Ventures (headed by Dov Moran, the inventor of the USB flash drive and Co-founder of M-Systems). With the previous raising of $4.5M, the investments in the company totaled $27.5 million. The capital raised will be used to scale workforce and to bring the AI chip to the market.

The company was founded in 2017 by the CEO Elad Sity and the CTO Eliad Hillel, both are veteran of the technological unit of Israel’s Intelligence Corps and formerly key employees at SolarEdge. It designs a new architecture for Artificial Intelligence processors, aimed to provide a fast general purpose AI execution with no memory bottlenecks and no accuracy compromises. The new processor can handle multiple applications simultaneously,  and to to run several neural networks, of any AI topology, at the same time.

NeuroBlade joins a group of new companies that challenge Intel’s and Nvidia’s dominance in AI processing, with new architectures designed from scratch to meet the needs of modern AI tasks. Among them, LG, Qualcomm, and the younger Habana Labs and Hailo from Israel, as well as Wave Computing from California and Cambricon from China.

This market is on a rapid move: According to a recent report published by Allied Market Research (Artificial Intelligence Chip Market), the global artificial intelligence chip market size was valued at $6.64 billion in 2018, and is projected to reach $91.2 billion by 2025, growing at a CAGR of 45.2% from 2019 to 2025. Based on chip type, the GPU segment led the AI chip market in 2018. However, the ASIC segment, representing the new dedicated architectures,  is anticipated to overtake the GPU type in the near future, in terms of revenue.

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