NeuroBlade raises $ 83 million for in-memory processing solution
Tel Aviv-based startup NeuroBlade said on Wednesday it had secured $ 83 million in Series B funding, bringing the total invested capital to $ 110 million. The investment was led by Corner Ventures with input from Intel Capital, and supported by current investors StageOne Ventures, Grove Ventures and Marius Nacht. Additionally, technology companies such as MediaTek, Pegatron, PSMC, UMC and Marubeni have also provided funding during this cycle.
NeuroBlade has developed a new data analysis architecture that eliminates major bottlenecks in data movement by integrating the function of processing data inside memory, better known as in-memory processing (PIM). ). PIM has been a pipe dream for decades, but NeuroBlade claims to be the first company to successfully bring this innovation into production.
“We have built a data analytics accelerator that speeds up data processing and analysis more than 100 times faster than existing systems. Based on our patented XRAM technology, we deliver a radically improved end-to-end system for the data center, ”said Elad Sity, CEO and co-founder of NeuroBlade.
NeuroBlade employs more than 100 people and is currently recruiting dozens of new employees in Israel and abroad. It was founded in 2018 by Elad Sity and Eilad Hillel, both former members of IDF Unit 81. The company’s team includes veterans from companies like Intel, Marvell, SolarEdge and TI, Sity working at SolarEdge from its founding until 2018 when it was valued at billions of dollars.
NeuroBlade raised $ 23 million in its Series A and $ 4.5 million in its funding round. “This funding reflects the stage we are at,” Sity told Calcalist. “In Series A, we raised funds to prove our technology and this is a round to bring our product to market. The company is valued at hundreds of millions of dollars, but is not close to being a unicorn. We still have room to grow. “