Innatera, a Delft, The Netherlands-based innovator in ultra-low power neuromorphic processors, raised $21m in Series A funding round.
This amount includes the initial Series A investment of $16m that the company announced in March this year, augmented by an additional $5m from new investors who joined the round. The Series A extension was led by investors Innavest and InvestNL, who joined existing Series A investors including EIC Fund, MIG Capital, Matterwave Ventures and Delft Enterprises.
The investment accelerates mass production of Innatera’s neuromorphic processor to reach 1 billion devices by 2030.
Led by Sumeet Kumar, CEO, Innatera provides the Spiking Neural Processor T1, which, unveiled in January 2024, represents a paradigm shift in energy-efficient AI for sensor-edge applications. Incorporating their proprietary event-driven computing engine alongside a conventional CNN accelerator and RISC-V CPU, the T1 is a comprehensive platform for sensor agnostic ultra-low power AI in battery powered devices.
The Spiking Neural Processor is slated to enter production later in 2024, with high-volume deliveries starting in Q2 of 2025.
Innatera today also announced that it had appointed veteran operations executive Duco Pasmooij, former VP at Apple, to its advisory board.
FinSMEs
27/06/2024