EnCharge AI, a Santa Clara, CA-based company developing advanced AI chips and full-stack solutions, has closed an additional $22.6 million in the second round of funding, bringing its total raised to $45 million.
The funding comes from strategic partners including VentureTech Alliance, RTX Ventures, and ACVC Partners, with participation from existing investors such as Anzu Partners, AlleyCorp, Scout VC, Silicon Catalyst Angels, and S5V.
Founded in 2001, VentureTech Alliance is a venture investment management firm targeting business investment in the semiconductor industry and other emerging technology areas.
RTX Ventures is the corporate venture capital arm of Raytheon Technologies and is based in Arlington, Virginia. Founded in 2022, the firm seeks to invest in companies operating in the aerospace and defense sectors.
ACVC Partners is a venture capital firm based in Palo Alto, California, that makes minority investments in seed-stage, early-stage, and later-stage companies. Founded in 2020, the firm focuses on deep tech Venture Fund which includes future mobility, emerging industrial technologies, and tech-enabled life science.
EnCharge AI Use of Funds
The company will use the funds to further develop its AI chip architecture and full-stack solutions.
About EnCharge AI
Founded in 2022 by Kailash Gopalakrishnan, Naveen Verma and Echere Iroaga, EnCharge AI provides an AI hardware and software system for edge-to-cloud computing. The company focuses on creating scalable hardware and software solutions to make AI more accessible and efficient for a broader range of users. The company's mixed analog and digital in-memory computing solution aims to provide higher performance at a lower cost and with reduced energy consumption compared to existing solutions.
Company: EnCharge AI, Inc.
Funding Month: December 2023
Lead Investors: VentureTech Alliance, RTX Ventures, and ACVC Partners
Additional Investors: Anzu Partners, AlleyCorp, Scout VC, Silicon Catalyst Angels, and S5V
Company Website: https://www.enchargeai.com/
Software Category: AI Compute Solutions