Wednesday, May 19, 2021

Mythic AI gets funding to mass-produce edge chips

Just six months after unveiling its first AI inferencing processor, Mythic AI has announced a new round of funding for $70 million in Series C investment to begin mass production of its chips and to develop its next generation of hardware and software products.

In November, the company announced the M1108 Analog Matrix Processor (AMP) aimed at edge AI deployments across a wide range of applications, including manufacturing, video surveillance, smart cities, smart homes, AR/VR, and drones.

For a company that is nine years old and has zero sales, it’s got some heavy hitters behind it. The new investment round was led by led by venture fund giant BlackRock and Hewlett Packard Enterprise (HPE). Other investors include Alumni Ventures Group and UDC Ventures.

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Thanks to Andy Patrizio (see source)

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