Fractile, a London, UK-based developer of a new AI chip for AI models, raised $15M in Seed funding.
The round was led by Kindred Capital, NATO Innovation Fund, and Oxford Science Enterprises, with participation from Cocoa and Inovia Capital, together with angel investors including Hermann Hauser (co-founder, Acorn, Amadeus Capital), Stan Boland (ex-Icera, NVIDIA, Element 14 and Five AI), and Amar Shah (co-founder, Wayve). To date, Fractile has raised $17.5m (£14m) in total funding.
The company intends to use the funds to grow its team across silicon, software and AI, build partnerships, and accelerate progress to its first products.
Founded in 2022 by Walter Goodwin, Fractile is an AI company that is building its new AI chip, capable of running AI models. Its computing technology aims to enhance collective AI capabilities by enabling large and capable neural networks to run faster, more efficiently and more sustainably.
Walter Goodwin founded Fractile in 2022 after completing a PhD in Artificial Intelligence and Robotics at the University of Oxford, where his research focused on leveraging early LLMs and other foundation models to build the intelligent systems required for general purpose robotics. He has already built a team with senior hires from NVIDIA, ARM and Imagination, and has filed patents protecting key circuits and its unique approach to in-memory compute. The company is already in discussions with potential partners and expects to sign partnerships ahead of production of the company’s first commercial AI accelerator hardware.
FinSMEs
26/07/2024