NeuReality, a Caesarea, Israel-based AI hardware startup specializing in next-generation AI inferencing platforms, has announced a successful $35 million in Series A funding, bringing its total funding to $48 million.
The round was led by Samsung Ventures, Cardumen Capital, Varana Capital, OurCrowd, and XT Hitech. SK Hynix, Cleveland Avenue, Korean Investment Partners, StoneBridge, and Glory Ventures also participated in the round.
This funding will support NeuReality’s plans to start deploying its Inference solutions in 2023 and will allow NeuReality to bring its first-in-class NAPU, the NR1, to market.
The NAPU is intended to support a broader set of less technical companies and will enable large-scale users, such as hyperscalers and next-wave datacentres customers, to more easily scale their AI usage.
“This investment is another sign of confidence in the talent and innovation that NeuReality and the Israeli tech industry offer the world,” said Moshe Tanach, CEO, and co-founder of NeuReality. “The high-profile investors in our Series A fundraising prove that NeuReality’s value proposition, architecture and flagship product is a viable reality that will transform the AI market.”
NeuReality is already collaborating with leading AI ecosystem partners and customers such as IBM, AMD, and Lenovo. Its system includes hardware, software, and tools that work together to boost efficiency and simplify the adoption and deployment of AI.
Company: NeuReality Ltd.
Raised: $35.0M
Round: Series A
Funding Month: December 2022
Lead Investors: Samsung Ventures, Cardumen Capital, Varana Capital, OurCrowd, and XT Hitech
Additional Investors: SK Hynix, Cleveland Avenue, Korean Investment Partners, StoneBridge, and Glory Ventures
Company Website: https://www.neureality.ai/
Software Category: AI Inferencing Platforms
About the Company: Founded by Moshe Tanach, Tzvika Shmueli, and Yossi Kasus, NeuReality is an innovative semiconductor startup, focusing on the future challenges of this growing demand, by designing the next evolution of AI-as-a-Service Infrastructure. NeuReality makes AI easier to deploy in terms of usability, cost, scalability, and sustainability. The company uses a new type of Network Addressable Processing Unit (NAPU) optimized for deep learning inference use cases such as computer vision, natural language processing, and recommendation engines. The NAPU will bring AI to a broader set of less technical companies. It is also set to allow large-scale users such as hyperscalers and next-wave data center customers to support their growing scale of AI usage. NeuReality’s disruptive system approach includes hardware, software, and tools that work together to boost efficiency and simplify the adoption and deployment of AI in a wider range of real-world applications.
Source: https://www.neureality.ai/pressrelease/israeli-ai-startup-neureality-raises-35m-series-a-to-bring-its-novel-inferencing-chip-to-the-market/