Israel-based artificial intelligence chipmaker Habana Labs has received $75m in a series B round led by semiconductor and data technology provider Intel, taking its total funding to $120m.
Intel, which led the round through corporate venturing subsidiary Intel Capital, was joined by venture capital firms Walden Riverwood Ventures (WRV), Bessemer Venture Partners and Battery Ventures along with undisclosed additional investors.
Habana uses artificial intelligence to improve the processing performance of chips while lowering their costs and power consumption.
The company came out of stealth in September this year, three months after it began testing its first processor, Goya, and Habana has begun production of the Goya line. It is planning to bring a training processor system into testing next year.
The series B capital will support product development in addition to expanding Habana’s sales and customer support teams.
Wendell Brooks, president of Intel Capital, said: “We are excited to invest in a dynamic team with a proven track record in the industry. Habana Labs’ innovation and execution on their vision will help drive the next evolution of artificial intelligence.”
Habana said it has now raised $120m in funding since 2016, though the company has not revealed details of any previous investment rounds.