Chip startup NeuroBlade in Israel has raised $83m in its second round of funding for its chip and appliance design using computational memory to speed up data centre applications
The Series B round was led by Corner Ventures with contribution from Intel Capital, and supported by current investors StageOne Ventures, Grove Ventures and Marius Nacht. Additionally, technology companies including MediaTek, Pegatron, PSMC, UMC and Marubeni also provided funding during this round, bringing the total raised to $110m.
The funds will be used to expand its engineering teams in Tel Aviv and builds its sales and marketing teams globally.
NeuroBlade has developed a new data analytics architecture that eliminates major data movement bottlenecks by integrating the data processing function inside memory, better known as processing-in-memory (PIM) or computational memory. NeuroBlade accelerates data analytics and unclogs traditional bottlenecks by integrating its technology into a full system-level easy-to-deploy appliance.
Existing system architectures show that the constant moving of data between storage, memory, and central processing is the primary cause of poor application performance and slow response times. NeuroBlade recognized that current architectures cannot scale to meet future data analytics needs, which led them to build a computational architecture that eliminates the data movement requirements and massively speeds data analytics performance. Chip startups such as Mythic and Axelera are also developing PIM devices, while Samsung is integrating an AI processor into its HBM memory chips for the same applications.
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The company already has over 100 staff and has begun shipping its data accelerator to leading-edge customers and partners worldwide for deployment in the world’s biggest data centres.
“We invented a new building block in computer architecture so organizations can quickly answer critical problems facing society and vastly improve business opportunities,” said Elad Sity, CEO and co-founder of NeuroBlade. “Our team is at the core of this success. Together, we built a data analytics accelerator that speeds up processing and analyzing data over 100 times faster than existing systems. Based on our patented XRAM technology, we provide a radically improved end-to-end system for the data center.”
“Despite being tested like never before this past year, the data centre kept the world operating at a critical time. We think that this market is poised for explosive growth and NeuroBlade looks to have a promising journey ahead,” said Lance Weaver, vice president and general manager of Data Center & Cloud Strategy at Intel. “Intel is proud to power NeuroBlade’s platform with our portfolio of products. We look forward to our continued collaboration with NeuroBlade to optimize end-to-end performance.”
“SAP looks forward to continuing to work with NeuroBlade on their new PIM-based data analytics acceleration solution,” said Dr. Patrick Jahnke, head of the innovation office at SAP. “The performance projections and breadth of use cases prove great potential for significantly increased performance improvements for DBMS at higher energy efficiency and reduced total-cost of ownership on-premises and in the cloud. Through this exciting collaboration with NeuroBlade, SAP will unlock new possibilities to build the data centre of the future.”
“Organizations run at the speed of their data. NeuroBlade is here to alter the pace of the race. Such is the impact that this technology will have on the global data center market. We fully expect NeuroBlade to be a major player in a very short time and why we are excited to join them at this critical moment in their growth,” said Corner Ventures partner Jonathan Pulitzer.
“In an increasingly digitized world, data empowers businesses to make more informed and precise decisions than ever before,” said Roi Bar-Kat, Head of Intel Capital Israel. “With NeuroBlade’s scalable solution, organizations are better equipped to quickly extract insights needed to make key decisions. Intel Capital is looking forward to supporting the NeuroBlade team as they work to bring increased efficiency and scale to data processing.”
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