NeuroBlade raises over $27 million to develop a new type of AI chip

June 27, 2019 • Artificial Intelligence, Internet of Things, Startups

NeuroBlade raises over $27 million to develop a new type of AI chip

NeuroBlade raises over $27 million to develop a new type of AI chip.

Israeli startup, NeuroBlade, has raised over $27 million to scale its workforce and ramp up its marketing efforts in order to bring the first generation of its AI chip to the market.

The deployment and use of AI are still limited by factors such as size, price, throughput or performance of these chips. The NeuroBlade chip is designed with different technology and architecture that allows it to solve a fundamental issue of running AI applications. It maintains a strong performance level despite being smaller and less expensive to make.

According to NeuroBlade, the chip is meant to run several neural networks and multiple complex algorithms at the same time. Its main advantage, according to the company, is that it is able to also solve tomorrow’s problems, not just the relatively “simple” problems computers grapple with today.

Elad Sity, CEO and Co-founder of NeuroBlade, says, “’we started out over two years ago with an ambitious [plan] to solve AI’s computational challenges. I would like to thank the investors and partners who share the excitement and faith in our product. This is also an opportunity to thank our employees for all their work and for walking the extra mile to make our vision materialize. Our core team has grown stronger over the past two years, creating a solid foundation for the upcoming growth.”

Edited by Jenna Cook

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