EdgeCortix, a Japan-based edge artificial intelligence (AI) semiconductor development and design company, raised $20 million in funding.
The round was led by SBI Investment Co. Ltd. and Global Hands-On VC (GHOVC), with participation from Renesas Electronics Corporation, Cycle Group, and Monozukuri Ventures.
SBI Investment Co. Ltd. is a venture capital firm based in Tokyo, Japan. The firm offers investment management, investment consulting, and other services. SBI Investment serves customers throughout Japan. The firm prefers to make seed-stage, early-stage, and later-stage investments.
Global Hands-On VC Fund I is a venture capital fund managed by Global Hands-On VC. The fund is located in Tokyo, Japan, and invests in Japan. The fund targets investments in the information technology sector.
EdgeCortix Use of Funds
The funding will support the development of EdgeCortix's next-generation hardware products and global expansion efforts. The company plans to expand its engineering capacity in Japan and open a development center in India while hiring talent in key technology roles.
EdgeCortix was founded in 2019 by Sakyasingha Dasgupta as a fabless semiconductor company focused on energy-efficient AI processing. In September of the same year, it established its R&D headquarters in Tokyo. Taking a software-first approach, EdgeCortix patented its "hardware and software co-exploration," system, using it to design an artificial intelligence-specific runtime reconfigurable processor from the ground up. Shipping its software and hardware products to customers globally, the company is geared towards positively disrupting the rapidly growing edge AI hardware space across defense, aerospace, smart cities, industry 4.0, autonomous vehicles, and robotics.
EdgeCortix aims to democratize access to machine learning solutions by delivering near-cloud-level AI performance at the edge with more than ten times better performance and energy efficiency compared to traditional processors.
Company: EdgeCortix, Inc.
Funding Month: October 2023
Lead Investors: SBI Investment Co. Ltd. and Global Hands-On VC
Additional Investors: Renesas Electronics Corporation, Cycle Group, and Monozukuri Ventures
Company Website: https://www.edgecortix.com/
Software Category: Edge AI Fabless Semiconductor Development and Design