Raises $70M for Next-Gen Edge AI Chip

By Stefania Viscusi  |  April 11, 2024, a provider of software-centric embedded edge machine learning systems-on-chip (MLSoC), recently announced it secured an additional $70 million in funding. The financing round was spearheaded by Maverick Capital, with contributions from Point72, Jericho, and existing investors such as Amplify Partners, Dell (News - Alert) Technologies Capital, Lip-Bu Tan, and others.

This funding injection brings's total raised capital to $270 million, further solidifying its position in the edge AI/ML market.

With the new capital, will continue to move forward with its efforts to meet the escalating demand for edge AI/ML solutions, particularly with the release of its second-generation Machine Learning System-on-Chip (MLSoC) slated for the first quarter of 2025.

The newest version will introduce a unified software-centric platform catering to all edge AI needs and is poised to revolutionize the way organizations engage with AI, offering scalability and adaptability across various AI modalities, including computer vision, transformers, and multimodal generative AI.

“AI — particularly the rapid rise of generative AI — is fundamentally reshaping the way that humans and machines work together. Our customers are poised to benefit from giving sight, sound, and speech to their edge devices, which is exactly what our next-generation MLSoC is designed to do,” said Krishna Rangasayee, Founder and CEO at “We have established undeniable technology leadership with our first generation MLSoC and with that momentum, also recognized the imminent need to equip our customers with one software-centric platform that supports all modalities from computer vision to GenAI. To that end, we’re accelerating our ability to execute and have strengthened our investor base even further with the addition of Maverick Capital, Point72, and others, as we remain laser-focused on powering the edge the world relies on.”

With the emergence of generative AI, which includes multimodal inputs like text-to-speech, speech-to-image, and image-to-video, there is an increasing need for edge devices to accommodate these sophisticated interfaces.'s MLSoC is uniquely positioned to address this demand, leveraging its fusion of hardware and software to process diverse AI models efficiently on silicon architecture.

“The computational intensity of generative AI has precipitated a paradigm shift in data center architecture. The next phase in this evolution will be the widespread adoption of AI at the edge. Just as the data center has been revolutionized, the edge computing landscape is poised for a complete transformation,” said Andrew Homan, Senior Managing Director at Maverick Capital. “ possesses the essential trifecta of a best-in-class team, cutting-edge technology, and forward momentum, positioning it as a key partner for customers traversing this tectonic shift. We are excited to join forces with to seize this once-in-a-generation opportunity.”

Edited by Greg Tavarez
Get stories like this delivered straight to your inbox. [Free eNews Subscription]