Israeli AI startup NeuReality raises $35M Series A to bring novel inferencing chip to the market
NeuReality’s system is built for optimized deployment in data centers and near-edge on-premises locations
NeuReality, an AI hardware startup which specializes in the next generation of AI inferencing platforms, is announcing a $35M Series A funding round, which will bring the company’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 for higher performance, lower latency, and 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.
The company aims to make AI easier to deploy in terms of usability, cost, scalability, and sustainability, by using 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’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.
“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 which will transform the AI market.”
Yoav Sebba, Managing Director at XT Hi-Tech, which invested in the company, added: “We are seeing endless AI opportunities developed by software companies, but the existing hardware infrastructure is limiting the deployment of those use cases.
"Recently new deep learning processors had been developed by multiple companies, serving as new type of ‘brains’. NeuReality is the full body surrounding those brains and allowing it to serve intelligent voice, language, vision, and recommendation applications.”
NeuReality, which raised its seed round early 2020, was co-founded by CEO Moshe Tanach, formerly Director of Engineering at Marvell and Intel and AVP R&D at DesignArt-Networks; 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.