Israel-based artificial intelligence chipmaker NeuroBlade has secured $23m in a series A round that featured Intel Capital, the corporate venturing arm of semiconductor producer Intel, Globes reported today.
Marcus Nacht, co-founder of software developer Check Point Software Technologies, led the round, which also featured StageOne Ventures and Grove Ventures.
Founded in 2017, NeuroBlade is building a processor for artificial intelligence (AI) applications that the company claims is able to run several neural networks and multiple algorithms simultaneously.
Elad Sity, co-founder and chief executive of NeuroBlade, said: “We started out slightly over two years ago with an ambitious idea how to solve AI’s computational challenges. Our core team has grown stronger over the past two years, creating a solid foundation for the upcoming growth.”
The series A round increased the company’s overall funding to $27.5m, having previously raised $4.5m in seed capital from StageOne Ventures and Grove Ventures.