Tech firm AlphaICs on Wednesday said it has secured USD 8 million (about Rs 58.4 crore) in funding, led by Endiya Partners and Emerald Technology Ventures. The Series-B round was led by Endiya Partners and Emerald Technology Ventures, with participation of existing Series-A investors ReBright Partners and 3One4 Capital, according to a statement. Aaruha Technology Fund, IREON Ventures, Canal Ventures, JSR Corporation, CBC Co ltd and the Whiteboard Capital also participated in the round. Michal Natora, Investment Director Industrial IT at Emerald, will join AlphaICs’ board of directors. “The funds will be used to tape-out the Gluon AI chip, to develop the software stack and to build system solutions for its target markets,” it added.
Pradeep Vajram, chairman and CEO of AlphaICs, said the funding will help the company bring its 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,” he added. AlphaICs designs and develops high-performance AI Chips for edge computing. 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 centers. Edge computing refers to computational processing of data away from the centralised nodes and closer to sources of data.
“Edge AI applications in consumer markets like high-end smartphones, wearables as well as enterprise markets like robots, cameras, and sensors will be pervasive in the next few years. “AlphaICs RAP accelerates inferencing as well as learning tasks on-device, rather than in a remote data center delivering benefits like low latency, cost, data privacy, and security,” Sateesh Andra, managing director of Endiya Partners, said.
Pingback: SEBI gives nod to Future Group and Reliance Retail deal | The Plunge Daily