Startup raises over $27 million to develop a new kind of AI chip

June 27, 2019 //By Ally Winning
Startup raises over $27 million to develop a new kind of AI chip
Israeli startup NeuroBlade has completed round A funding of $23-million to bring the first generation of its AI chip to the market.

The round A funding was led by Marius Nacht, Co-founder of Check Point Software Technologies, and featured new investor Intel Capital with existing investors StageOne Ventures and Grove Ventures. This funding round is in addition to $4.5M previously raised.

Founded in 2017 by Elad Sity, CEO and Eliad Hillel, CTO and VP Product Strategy, NeuroBlade raised its initial capital while in stealth mode from StageOne Ventures and Grove Ventures. Additional initial capital was received by several private investors, including Rami Lipman.

Sity and Hillel are formerly key employees of SolarEdge, which grew from a small startup to a successful public company. Sity joined SolarEdge shortly after it was founded and served as VP, Software and System in his final position. Eliad Hillel was initially part of the company’s hardware department and ended up heading one of the central software and algorithm teams.

The NeuroBlade chip is designed with unique technology and architecture that allows it to maintain strong performance levels 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.

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