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AlphaICs secures $8 mn in series B round funding

AlphaICs has secured $8 million in series B round funding from Endiya Partners and Emerald Technology Ventures.

The funding also saw the participation of Aaruha Technology Fund, IREON Ventures, Canal Ventures, JSR Corporation, CBC Co. Ltd, Whiteboard Capital, ReBright Partners, and 3One4 Capital.

“The company will use the fund to develop the software stack and to build system solutions for its large markets,” the company said.

“With this funding, Emerald investment director Michal Natora will join AlphaICs’ board of directors,” it added.

Speaking on the funding, Sateesh Andra, Managing Director of Endoya Partners said, “Edge AI applications in consumer markets like high-end smartphones, wearables as well as enterprise markets like robots, cameras, and sensors will be pervasive in the next few years. AlphaICs RAP accelerates inferencing as well as learning tasks on-device, rather than in a remote data center delivering benefits like low latency, cost, data privacy, and security.”

“AlphaICs innovative architecture will empower system integrators to create AI solutions, with a short time-to-market; while staying within the systems cost and thermal constraints.” Said Pradeep Vajram, Chairman and CEO of AlphaICs.

“We are also working with strategic partners to bring innovative solutions to the industrial, automotive, and surveillance markets,” he added.

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