NeuReality, an AI inference solutions provider based in Israel, has successfully closed a Series A funding round of $35 million. This injection will help the firm increase its chip adoption rate and launch it as soon as 2023. It will also let the team bring its Network Addressable Processing Units (NAPU) to new global markets.
Samsung Ventures, Cardumen Capital, Varana Capital, OurCrowd and XT Hitech spearheaded the funding with additional support from SK Hynix, Cleveland Avenue, Korean Investment Partners, StoneBridge and Glory Ventures. This successful round brings NeuReality’s total funding to $48 million.
NeuReality is developing an AI module for the optimal deployment of ML models in data centers and on-premise locations. NeuReality’s AI inferencing solution caters to the demand for high-performance, low latency and higher-efficiency applications. The company has also partnered with tech giants such as IBM, AMD and Lenovo.
“This investment is another sign of confidence in the talent and innovation that NeuReality and the Israeli tech industry offer the world,” stated Moshe Tanach, the CEO and co-founder of NeuReality. “The high-profile investors in our Series A fundraising prove that NeuReality’s value proposition, architecture, and flagship product is a viable reality that will transform the AI market.”
NeuReality AI inference chip uses the company’s Network Addressable Processing Units, optimized for applications such as computer vision and natural language processing. This solution can address the needs of large-scale users such as hyperscalers and next-gen data center customers. The AI inference solution combines software, hardware and tools to enhance the efficiency of AI deployment in edge computing use cases.
The company’s AI chip uses NeuReality’s AI-centric architecture built for inference workflows and has dedicated hardware instruction processing. NeuReality asserts that its AI chip eliminates impediments to artificial intelligence and maximizes processor performance for machine learning. The company says the solution also reduces overall system cost and power consumption.
“We are honored to join the NeuReality journey led by this exceptional team, headed by Moshe, Tzvika, Yossi and Lior,” said Yoav Sebba, managing director at XT Hi-Tech. “Recently new deep learning processors have been developed by multiple companies, serving as a new type of ‘brains’. NeuReality is the full body surrounding those brains and allowing it to serve intelligent voice, language, vision and recommendation applications.”
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