NeuReality raises $35 million Series A to accelerate AI
The Israeli AI hardware startup’s solution includes hardware, software, and tools that work together to boost efficiency and simplify the adoption and deployment of AI in a wider range of real-world applications
NeuReality, an AI hardware startup that specializes in AI inferencing platforms, announced on Tuesday the raising of a $35 million Series A funding round. The round was led by Samsung Ventures, Cardumen Capital, Varana Capital, OurCrowd, and XT Hitech. SK Hynix, Cleveland Avenue, Korean Investment Partners, StoneBridge, and Glory Ventures also participated in the round. The round brings NeuReality’s total funding to $48 million.
The new fundraising will support NeuReality’s plans to start deploying its inference solutions in 2023. NeuReality’s system is built for optimized deployment in data centers and near-edge on-premises locations in need of higher performance, lower latency, and much higher efficiency compared to existing technologies. The company had already reported its close collaboration with leading AI ecosystem partners and customers such as IBM, AMD, and Lenovo.
NeuReality uses a new type of Network Addressable Processing Units (NAPU) optimized for deep learning inference use cases such as computer vision, natural language processing, and recommendation engines. The company’s disruptive system approach includes hardware, software, and tools that work together to boost efficiency and simplify the adoption and deployment of AI in a wider range of real-world applications.
The funding will allow NeuReality to bring its first-in-class NAPU, the NR1, to the global market. This AI chip is based on NeuReality’s AI-centric architecture and removes existing system bottlenecks to increase the utilization of current deep-learning processors, while lowering the latency of AI operations and saving in overall system cost and power consumption.
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“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, 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 are a viable reality that will transform the AI market.”
NeuReality, which raised its Seed round early 2020, is led by a seasoned management team with extensive experience in AI, data-center architecture, systems, and software. NeuReality was co-founded by CEO Moshe Tanach, formerly Director of Engineering at Marvell and Intel and AVP R&D at DesignArt-Networks (acquired by Qualcomm); VP Operations Tzvika Shmueli, formerly VP of Backend at Mellanox Technologies and VP of Engineering at Habana Labs; and VP VLSI Yossi Kasus, formerly Senior Director of Engineering at Mellanox and the head of VLSI at EZChip. The company's leading team also includes CTO Lior Khermosh, former co-founder and Chief Scientist of ParallelM and a fellow at PMC Sierra.
