Israeli 'unicorn' raises funds for supercomputing chips

July 19, 2021 // By Peter Clarke
Israeli 'unicorn' raises funds for supercomputing chips
Supercomputing chip company NextSilicon Ltd. (Tel Aviv, Israel) has raised $120 million in a Series C round of finance bring the company's valuation to $1.5 billion.

The round brings the total raised by the company since formation in 2018 to more than $200 million. The company claims to be coming up with high-performance computing chips for supercomputers based on a novel architecture.

The company is working with supercomputing centers on how to accelerate high complexity problems such as molecular dynamics and DNA sequencing. With the latest funding round the company reckons it has the resources to design and produce three generations of chip and products.

The company was founded by Elad Raz who was previously director of software at Mellanox Technologies. Other senior managers include Ilan Tayari, vice president of architecture; Eyal Nagar, vice president of R&D and Sharon Dothan, vice president of strategy.

The latest round was led by Third Point Ventures, with the participation of Playground Global, Aleph, Yuval Ariav, the Schusterman Family Investments, Amiti and Liberty venture funds.

Related links and articles:

www.nextsilicon.com

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