Israel-based artificial intelligence chipmaker NeuroBlade received $83m yesterday in a series B round featuring a number of tech corporates, bringing its overall funding to just over $110m.
Semiconductor producers MediaTek, PSMC, UMC and Intel all took part in the round – the last through its corporate venturing unit Intel Capital – as did electronics manufacturer Pegatron and conglomerate Marubeni.
Venture capital firm Corner Ventures led the round and was also joined by StageOne Ventures, Grove Ventures and private investor Marius Nacht.
Founded in 2016, NeuroBlade develops artificial intelligence-ready processors powerful enough not to be hindered by memory constraints. The funding will be used to grow the company’s team at its Tel Aviv base and expand its global marketing and sales teams.
Intel Capital also took part in NeuroBlade’s $23m series A round, in mid-2019, which was led by Marius Nacht and which included StageOne Ventures and Grove Ventures, the last two having previously provided $4.5m in seed capital.
Elad Sity, co-founder and chief executive of NeuroBlade, said: “We invented a new building block in computer architecture so organisations can quickly answer critical problems facing society and vastly improve business opportunities.
“Our team is at the core of this success. Together, we built a data analytics accelerator that speeds up processing and analysing data over 100 times faster than existing systems. Based on our patented XRAM technology, we provide a radically improved end-to-end system for the data centre.”
