Israeli next generation AI inferencing platform company NeuReality has announced the completion of a $35 million Series A financing round 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 $8 million.
The new fundraising will support NeuReality’s plans to begin deploying its inference solutions in 2023. The company's system is built for optimized deployment in data centers and near-edge on-premises locations seeking higher performance, lower latency, and much higher efficiency compared to existing technologies. The company collaborates closely with leading AI ecosystem partners and customers such as IBM, AMD, and Lenovo.
NeuReality makes AI easier to deploy in terms of usability, cost, scalability, and sustainability. The company 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.
NeuReality was founded by CEO Moshe Tanach, VP operation Tzvika Shmueli and VP VLSI Yossi Kasus.
Tanach said, "This investment is another sign of confidence in the talent and innovation that NeuReality and the Israeli tech industry offer the world. The high-profile investors in our Series A fundraising prove that NeuReality’s value proposition, architecture and flagship product are a viable reality which will transform the AI market."
Published by Globes, Israel business news - en.globes.co.il - on December 6, 2022.
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