AI start-up NeuReality raises $35m in Series A funding round

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NeuReality, an AI hardware start-up specialising in next generation AI inferencing platforms, has announced a successful $35m Series A funding round.

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 and brings NeuReality’s total funding to $48 million.

The new funds will support NeuReality’s plans to start deploying its Inference solutions in 2023. Built for optimised deployment in data centres and near-edge on-premises locations the system provides higher performance, lower latency, and much higher efficiency compared to many existing technologies. NeuReality is already collaborating with leading AI ecosystem partners and customers such as IBM, AMD and Lenovo.

The company looks to make AI easier to deploy in terms of usability, cost, scalability and sustainability and does so by using a new type of Network Addressable Processing Unit (NAPU) that has been optimised for deep learning inference use cases such as computer vision, natural language processing and recommendation engines.

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.

NeuReality’s system includes hardware, software and tools that work together to boost efficiency and simplify the adoption and deployment of AI.

The funding will allow NeuReality to bring its first-in-class NAPU, the NR1, to market. This next-generation AI chip, which is based on NeuReality’s AI-centric architecture, pushes the performance and efficiency of AI systems and does so by removing existing system bottlenecks to increase the utilisation of current deep-learning processors, while lowering the latency of AI operations, and saving in overall system cost and power consumption.

“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 which will transform the AI market.”