$8 Million raised by Edge AI Company AlphaICs in Funding Round
One of the leading edge AI technology companies from Bangalore, AlphaICs announced today that it has secured $8 million funding. The Series B round was led by Endiya Partners and Emerald Technology Ventures, with the participation of existing Series A investors ReBright Partners and 3One4 Capital, along with Aaruha Technology Fund, IREON Ventures, and others.
With the growth in popularity of Deep Neural Networks, there has been a huge demand for running such networks on edge devices in real-time. The company designs and develops high-performance AI Chips for Edge Computing. It will use the funds to tape-out the Gluon AI chip, to develop the software stack and to build system solutions for its target markets.
AlphaICs’ Real AI Processor (RAPTM), based on a proprietary highly modular and scalable architecture, enables AI acceleration for low power edge applications, as well as high-performance edge data centres. AlphaICs’ architecture provides best-in-class inference performance, and it is equally suited for edge learning. The rapidly developing field of Edge learning promotes privacy, enables automated labelling, and facilitates continuous learning of new scenarios.
Pradeep Vajram, Chairman & CEO of AlphaICs said, “AlphaICs innovative architecture will empower system integrators to create AI solutions, with a short time-to-market; while staying within the systems cost and thermal constraints.” He added, “This funding will help us bring our first inference co-processor to the market for vision applications with low latency requirements. We are also working with strategic partners to bring innovative solutions to the Industrial, Automotive, and Surveillance markets.”
Adding to this comment, Michal Natora, Investment Director at Emerald Technology Ventures said, “We observed a big need in the industry for Machine Learning applications at the edge. AlphaICs’ technology offers significant performance advantages for edge inference as well as for edge learning solutions.” He added, “The differentiated technology and the high calibre team led by Pradeep Vajram were two key criteria driving Emerald’s investment.”