Mythic, an Austin, Texas-based AI processor company with breakthrough analog compute-in-memory technology, raised $13 million in a new round of funding, bringing its total raised $178 million to date.
Mythic’s existing investors Atreides Management, DCVC, and Lux Capital contributed to the round, along with new investors Catapult Ventures and Hermann Hauser Investment.
This investment will help Mythic bring to market its next-generation M2000 series product, which builds on the legacy of Mythic’s M1076 Analog Matrix Processor (Mythic AMP™). The company plans to further grow its headcount in 2024 as the M2000 series nears production.
“Mythic’s technology is truly one of a kind with our analog computing approach that offers huge leaps in performance and efficiency compared to digital processors, not to mention substantial cost benefits. This new funding will help us accelerate our path forward to help companies to unlock the full potential of edge AI inferencing,” said Dave Fick, co-founder, and CEO at Mythic. “Mythic has already seen strong demand for the M1076, so we’re confident that our next-generation processor will be widely adopted in computer vision applications like smart robots, security cameras, drones, and AR headsets. The potential for analog computing is truly limitless.”
Mythic is ushering in the next era of AI innovation for defense applications, enterprises, industrial environments, smart cities, the smart home, and beyond.
The company also announced the appointment of its new CEO Dave Fick, who co-founded the company and previously served as CTO.
Company: Mythic, Inc.
Raised: $13.0M
Round: Unknown
Funding Month: March 2023
Lead Investors: Atreides Management, DCVC, and Lux Capital
Additional Investors: Catapult Ventures and Hermann Hauser Investment
Company Website: https://mythic.ai/
Software Category: Analog Compute for AI
About the Company: Founded in 2012 by Mike Henry and Dave Fick, Mythic has developed a unified hardware and software platform featuring its unique Mythic Analog Compute Engine (Mythic ACE™) to deliver revolutionary power, cost, and performance that shatters digital barriers preventing AI innovation at the edge. The Mythic Analog Matrix Processor (Mythic AMP™) makes it easier and more affordable to deploy powerful AI solutions, from the data center to the edge device. Mythic’s analog compute architecture can process full-resolution video at the edge, so security cameras and drones can detect threats in real-time. The company's compact and power-efficient platform also allows drones to fly for longer and go higher. Mythic can bring edge AI inferencing to everything from low-cost drones and tiny doorbell cameras to immersive AR headsets and huge robots.
Source: https://mythic.ai/whats-new/mythic-raises-13-million-to-bring-its-next-generation-analog-computing-solution-to-market/