Israeli data analytics co NeuroBlade raises $83m

NeuroBlade founders Photo: David Garb
NeuroBlade founders Photo: David Garb

The Tel Aviv-based company has integrated the data processing function inside memory, better known as processing-in-memory (PIM).

Israeli data analytics company NeuroBlade today announced the completion of a $83 million Series B financing round, led by Corner Ventures with participation from Intel Capital, and existing investors StageOne Ventures, Grove Ventures and Marius Nacht. Tech companies including MediaTek, Pegatron, PSMC, UMC and Marubeni also provided funding during this round. This round brings the total amount raised by the company to $110 million.

The new funds will be used to expand NeuroBlade's engineering teams in Tel Aviv and develop marketing and sales globally.

NeuroBlade has developed a new data analytics architecture that eliminates major data movement bottlenecks by integrating the data processing function inside memory, better known as processing-in-memory (PIM).

The company was founded by CEO Elad Sity and CTO Eliad Hillel and already has more than 100 employees. NeuroBlade has begun shipping its data accelerator to leading-edge customers and partners worldwide. This has seen these partners starting to integrate and deploy NeuroBlade into the world’s biggest data centers.

Sity said, "We invented a new building block in computer architecture so organizations 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 analyzing 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 center."

Published by Globes, Israel business news - en.globes.co.il - on October 6, 2021

Copyright of Globes Publisher Itonut (1983) Ltd. 2021

NeuroBlade founders Photo: David Garb
NeuroBlade founders Photo: David Garb
Tel Aviv light rail Light rail fares in Israel jump 33.3%

Bus fares will also rise 33.3% after the 2025 budget is passed.

Quantum Machines founders credit: Eyal Izhar Israeli co Quantum Machines raises $170m

Sources say that the company's valuation, which before the latest round was $520 million, has now risen to $670 million.

Pay cuts illustration: Shutterstock Treasury plans pay cuts for doctors, teachers, and civil servants

The move is intended to ensure that the budget savings target of NIS 5 billion shekels in 2025 is achieved, as part of efforts to reduce the state budget deficit.

Shekel credit: Shutterstock Vladirina 32 Shekel weakens after BoI rate call

Poria Financial Planning chairman Or Poria: There is growing uncertainty over the collapse of the hostage deal, and the increasing probability of renewed fighting in the south.

Daniel Aronovitz credit: Joseph Laor Insight Partners: $6b and still investing in Israel

Insight Partners newly appointed Israel partner Daniel Aronovitz tells "Globes" about the US firms plans for Israel and reveals the huge extent of past investment.

Bank of Israel Governor Amir Yaron credit: Eyal Izhar, Tali Bogdansky BoI Governor: We hope for two rate cuts in second half

Bank of Israel Governor Prof. Amir Yaron tells "Globes" he remains concerned about inflation, higher demand than supply, and real estate balloon loans.

Bank of Israel Governor Prof. Amir Yaron credit: Yossi Cohen BoI keeps rate unchanged for ninth consecutive time

The Bank of Israel Monetary Committee reiterated: the interest rate path will be determined in accordance with the convergence of inflation to its target.

Supervisor of Banks Daniel Hahiashvili credit: Yossi Cohen Regulator opposes Israeli banks increasing dividends

Supervisor of Banks, Daniel Hahiashvili is reportedly reluctant to let banks increase their dividend distribution, from a ceiling of 40% of profits towards 50%.

Metro credit: Bar Lavi Metro dispute over station entrances to delay tenders

NTA believes stations only need one entrance while the Israel Planning Administration says several are necessary.

Declining tech industry pay  credit: Ussama Azam Unsplash Tech salaries in Israel falling with jobs harder to find

Despite inflation tech salaries are declining, the Central Bureau of Statistics reports.

Tel Aviv credit: Shutterstock New Tel Aviv master plan massively boosts building rights

The plan, set to be approved for deposit, adds 11.3 million square meters of housing, 6.1 million square meters of office space and allows construction of 80-floor buildings in certain places.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Kfar Saba, Even Yehuda, Rishon Lezion, Hadera, Haifa and Tzfat.

Jerusalem's Midtown project credit: DBLD architects Foreign residents dominate Jerusalem city center housing market

Wealthy foreign residents are increasingly pricing residents out of the market in central neighborhoods, as ghost apartments haunt the city.

Egyptian tanks in Sinai near Rafah credit: Reuters Mohamed Abd El Ghany Egyptian military violations in Sinai concern Israel

President Donald Trump's relocation plan for Gazans is further straining fraught relations between Israel and Egypt. "Globes" examines whether it could spark a war.

Yitzhak Tshuva credit: Gidon Levy and Tali Bogdanovsky Isracard shareholders approve acquisition by Delek

For the deal to go through, approval is now needed from the Supervisor of Banks and the Israel Competition Authority.

Air Canada Photo: Shutterstock Air Canada to resume Israel flights in June

The Canadian airline will resume Toronto-Tel Aviv flights on June 8 and Montreal-Tel Aviv flights in August.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018