Europe invests in NeuReality’s AI technology

Europe invests in NeuReality’s AI technology

Business news |
By Peter Clarke

The European Innovation Council (EIC) Fund has participated in a US$20 million funding round at AI semiconductor startup NeuReality Ltd. (Caesarea, Israel).

The round also included participation from Varana Capital, Cleveland Avenue, XT Hi-Tech and OurCrowd. The new capital will accelerate the deployment of the company’s NR1 AI Inference Solution to more customers.

The latest investment brings the NeuReality’s total funding to US$70 million.

Since its Series A funding in 2022, NeuReality has taken delivery of its NR1 NAPUs. The firm is driving early AI deployments with select cloud service customers and enterprise customers in financial services, business services, and government, focusing on current natural language processing, automated speech recognition, recommendation systems, and computer vision.

NeuReality’s NR1-M and NR1-S systems, which are full-height PCIe cards that integrate easily into server racks, drive 100 percent AI accelerator utilization. Each system houses internal NAPUs that run on any AI accelerator and operate independently from the CPU, eliminating a CPU requirement altogether. By connecting directly to Ethernet, NR1 efficiently manages AI queries from vast data pipelines originating from millions of users and billions of devices. Compatible server configurations were demonstrated by AMD, IBM, Lenovo, Qualcomm, and Supermicro at NeuReality’s product launch at the SC23 international conference in Denver last November.

“Our disruptive AI Inference technology is unbound by conventional CPUs, GPUs, and NICs. We didn’t try to just improve an already flawed system. Instead, we unpacked and redefined the ideal AI Inference system from top to bottom and end to end, to deliver breakthrough performance, cost savings, and energy efficiency,” said NeuReality’s CEO Moshe Tanach, pointing to the poor 30 to 40 percent utilization rate of AI accelerators experienced in other systems.

The investment from the EIC Fund, the venture arm of the European Commission’s EIC Accelerator program, shows its support for the firm’s solution which not only brings optimized performance, but also improved energy efficiency in AI deployment to the marketplace.

“We recognize the increasing importance of the European Union’s leadership in AI and blazing a different path of high efficiency versus high spending,” said Svetoslava Georgieva, chair of the EIC Fund Board. “NeuReality’s vision and disruptive technology align with our commitment to fortifying the region’s deep tech and AI investments for a sustainable, AI-powered future.”

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