Micron, Lam help raise Mythic’s Series B to $70 million

Micron, Lam help raise Mythic’s Series B to $70 million

Business news |
By Peter Clarke

Additional new investors are Future Ventures, Atreides, Micron Ventures, and Lam Research. Existing investors also participating included SoftBank Ventures Asia, Threshold Ventures (formerly DFJ Venture), Lux Capital, DCVC (Data Collective), AME Cloud Ventures, and Lockheed Martin Ventures, bringing total Series B funding to $70 million

Mythic was founded in 2012 as Isocline Engineering Corp. and is adopting an analog “processing-in-memory” approach to neural network implementation.

Mythic has also appointed Ty Garibay as vice president of engineering, Boris Beylin as vice president of software engineering, and Tim Vehling as senior vice president of product and business development.

Mythic has been a leading proponent of using embedded flash memory arrays to perform analog calculations needed for the inference stage of neural networks. This provides energy consumption and area advantages over digital neural networks while using familiar circuit structures.

“Mythic’s unique and efficient compute-in-memory technology helps accelerate near real-time analytics and insights that deliver on the promise of Industrial IoT. As a strategic investor, Micron will collaborate with Mythic to advance the ecosystem for new edge solutions,” said Rene Hartner, vice president of corporate business development at Micron Technology, in a statement issued by Mythic.

Mythic expects to provide its first products to strategic and early access customers during 4Q19.

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