AlphaICs has raised $8 million in Series B funding round led by Endiya Partners, Emerald Technology Ventures. The startup from California and Bengaluru, designs and develops chipsets for processing artificial intelligence workloads
The edge AI technology startup witnessed participation from existing Series A investors – 3one4 Capital and ReBright Partners. KARSEMVEN Fund, Aaruha Technology Fund, IREON Ventures, Canal Ventures, JSR Corporation, CBC Co Ltd, and the Whiteboard Capital also participated in the fresh financing round.
Investment Director, Industrial IT, Emerald – Dr Michal Natora will join the board of directors of AlphaICs.
The startup stated that it will use the fresh funds raised to develop software stack, along with building system solutions for its’ customers.
Pradeep Vajram, Chairman and CEO of AlphaICs, said, “AlphaICs innovative architecture will empower system integrators to create AI solutions, with a short time-to-market; while staying within the systems cost and thermal constraints.”
Pradeep added, “This funding will help us bring our 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.”
“Edge AI applications in consumer markets like high-end smartphones, wearables as well as enterprise markets like robots, cameras, and sensors will be pervasive in the next few years. 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 at Endiya Partners.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.