NeoLogic raises $8 million in latest seed round

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NeoLogic, the Israel-based processor technology startup, has raised $8 million in a seed round led by Maniv Mobility venture capital fund with lool Ventures and M-Ventures. The company has also been supported by the Israeli Innovation Authority.

NeoLogic has developed a technology that enables the design of more powerful chips with lower energy consumption and reduced costs for high-performance computing, artificial intelligence tasks, machine learning, and machine vision.

The company’s chip design technology - Quasi-CMOS - reduces the transistor count of a microprocessor by up to a third of its originally designed number of transistors. The technology makes it possible to develop processors of higher computing power and more energy-efficient while significantly reducing their price.

The technology aims to meet accelerating workloads of artificial intelligence tasks, machine learning, video processing, data science, and the like in data centres and at the edge.

NeoLogic was founded in 2021 by Dr. Avi Messica (CEO) and Ziv Leshem (CTO), both of whom have decades of experience in R&D and management of microprocessors design and fabrication. It currently employs 13 people and is recruiting additional employees and is, according to the company, seeing a lot of interest in its chip design technology.

Commenting Dr. Avi Messica, CEO of NeoLogic, said, "The processor market for data centres is currently estimated at $110 billion. In the near future, AI accelerators will make up a significant percentage of data centre processors.

“Current microprocessors rely on 40 years old (CMOS) technology and chip designers are struggling to meet the current and future computation power and power consumption requirements. NeoLogic’s technology breaks through the limitations of CMOS, reduces the complexity of digital circuits, and offers a dramatic improvement in the price-performance ratio and chip area. We have filed three patent applications so far."

Nate Jaret, a general partner at Maniv Mobility, a fund that invests in innovative technologies, said, "NeoLogic’s innovative architecture represents a paradigm shift in the development of microprocessors at a period when groundbreaking innovations in the semiconductor industry generate exceptional economic value. We believe that NeoLogic has a unique opportunity to bring about a far-reaching change in the way processor manufacturers design the next generations of chips that will be more powerful, more energy efficient, and significantly cheaper."