MemryX, a provider of industry leading Edge AI semiconductor solutions, announced it has raised $44 million in Series B funding. This funding round received support from new and existing investors.
This deal follows MemryX reaching production quality of the industry leading MX3 Accelerator chip, the competitive selection of over a dozen companies to enter production with MemryX, and independent reviews highlighting the compelling value of the MX3.
MemryX MX3 AI solutions deliver higher system performance utilizing less than 10% the power of mainstream GPU solutions for vision-based AI inference. And the industry leading MX3 is being designed by numerous customers building solutions such as AI powered Video Management Systems (VMS), Industrial PCs, and a variety of Edge Servers. MemryX software tools and benchmark measures on hundreds of models are available publicly on the MemryX Developer Hub.
KEY QUOTES:
“We are thrilled to complete our Series B funding round, which will enable us to ramp our existing production best-in-class MX3 accelerator and complete the design of our groundbreaking MX4. Our software-first core architecture has enabled us to be extremely capital efficient while developing a robust software stack and support dozens of customers. It also provides a very strong foundation to build our next generation MX4 accelerator.”
- Keith Kressin, CEO of MemryX
