EnCharge AI, a Santa Clara, CA-based company building advanced computers for AI at the Edge, announced that it raised $21.7 million in Series A financing.
The round was led by Anzu Partners, with participation from AlleyCorp, Scout Ventures, Silicon Catalyst Angels, Schams Ventures, the E14 Fund, and Alumni Ventures.
EnCharge will leverage the funding to further develop and commercialize its semiconductor hardware and software stack, which offers the highest reported efficiency for AI computing to date.
“In order to keep pace with the incredible innovations we are seeing in AI, we need fundamentally new ways of computing,” said Naveen Verma, Ph.D., CEO and Co-Founder, EnCharge AI. “This requires differentiated technologies, but which are also extensively validated and refined across the entire stack for real-world operation. We believe that EnCharge’s technology is the only robust and scalable form of next-generation in-memory computing. Following this Series A round, EnCharge is now positioned to develop products to engage with customer applications in production at the forefront of AI.”
EnCharge’s transformative charge-based in-memory computing technology was originally born out of DARPA and Department of Defense-funded R&D and has matured through six years of deep research and validation.
Company: EnCharge AI
Round: Series A
Funding Month: December 2022
Lead Investors: Anzu Partners
Additional Investors: AlleyCorp, Scout Ventures, Silicon Catalyst Angels, Schams Ventures, E14 Fund, and Alumni Ventures
Company Website: https://enchargeai.com/
Software Category: AI Hardware and Software systems for Edge Computing
About the Company: Founded by Verma along with Kailash Gopalakrishnan, Ph.D., who serves as Chief Product Officer, and Echere Iroaga, Ph.D., who serves as Chief Operating Officer, EnCharge AI is a leader in advanced AI hardware and software systems for edge computing. EnCharge’s robust and scalable next-generation in-memory computing technology provides orders of magnitude higher compute efficiency and density compared to today’s best-in-class solutions. The high-performance architecture is coupled with seamless software integration and will enable the immense potential of AI to be accessible in power, energy, and space-constrained applications. EnCharge AI launched in 2022 and is led by veteran technologists with backgrounds in semiconductor design and AI systems.