NeuReality in Israel has raised $35m to start deploying its data centre AI inference chip, the NR1, in 2023.
The Series A funding round was led by Samsung Ventures, Cardumen Capital, Varana Capital, OurCrowd and XT Hitech. SK Hynix, Cleveland Avenue, Korean Investment Partners, StoneBridge, and Glory Ventures also participated in the round.
The round brings NeuReality’s total funding to $48 million.
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The system is built for optimized deployment in data centres and near-edge on-premises locations for lower power consumption and higher efficiency than CPU and GPU chips.
The company had already reported its close collaboration with leading AI ecosystem partners and customers such as IBM, AMD, and Lenovo.
The NR1 uses a new type of Network Addressable Processing Units (NAPU) optimized for deep learning inference use cases such as computer vision, natural language processing, and recommendation engines.
The NAPU will allow large-scale users such as Hyperscalers and next-wave datacentre customers to support their growing scale of AI usage. NeuReality is supplying hardware, software and tools that work together to boost efficiency and simplify the adoption and deployment of AI in a wider range of real-world applications.
“This investment is another sign of confidence in the talent and innovation that NeuReality and the Israeli tech industry offer the world,” stated Moshe Tanach, CEO and co-founder of NeuReality. “The high-profile investors in our Series A fundraising prove that NeuReality’s value proposition, architecture and flagship product are a viable reality which will transform the AI market.”
Yoav Sebba, Managing Director at XT Hi-Tech, added: “We are honored to join the NeuReality journey led by this exceptional team, headed by Moshe, Tzvika, Yossi and Lior. High performance and sustainable Inference computing is so critical for growth in day-to-day usage of AI. We are seeing endless AI opportunities developed by software companies, but the existing hardware infrastructure is limiting the deployment of those use cases. Recently new deep learning processors had been developed by multiple companies, serving as new type of “brains”. NeuReality is the full body surrounding those brains and allowing it to serve intelligent voice, language, vision, and recommendation applications”.
Dr. Mingu Lee, Managing Partner at Cleveland Avenue Technology Investments, noted: “NeuReality is bringing ease of use and scalability into the deployment of AI inference solutions, and we see great synergy between their promising technology Fortune 500 enterprises companies we communicate with. We feel that investing in companies such as NeuReality is vital, not only to ensure the future of technology, but also in terms of sustainability.”
NeuReality was co-founded by CEO Moshe Tanach, formerly Director of Engineering at Marvell and Intel and AVP R&D at DesignArt-Networks (acquired by Qualcomm); VP Operations Tzvika Shmueli, formerly VP of Backend at Mellanox Technologies and VP of Engineering at Habana Labs; and VP VLSI Yossi Kasus, formerly Senior Director of Engineering at Mellanox and the head of VLSI at EZChip. The company’s leading team also includes CTO Lior Khermosh, former co-founder and Chief Scientist of ParallelM and a fellow at PMC Sierra.