Next-generation data acceleration solution NeuroBlade has secured $83 million in Series B funding, bringing total invested capital to $110 million, the company announced Wednesday.
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NeuroBlade has developed a new data analytics architecture that eliminates major data movement bottlenecks by integrating the data processing function inside memory, better known as processing-in-memory (PIM)..
The investment was led by Corner Ventures with contribution from Intel Capital, and supported by current investors StageOne Ventures, Grove Ventures and Marius Nacht. Additionally, technology companies including MediaTek, Pegatron, PSMC, UMC and Marubeni also provided funding during this round. The financing will be put to work as the company expands its engineering teams in Tel Aviv and builds out its sales and marketing teams globally.
"We invented a new building block in computer architecture so organizations can quickly answer critical problems facing society and vastly improve business opportunities," said Elad Sity, CEO and co-founder of NeuroBlade. "Our team is at the core of this success. Together, we built a data analytics accelerator that speeds up processing and analyzing data over 100 times faster than existing systems. Based on our patented XRAM technology, we provide a radically improved end-to-end system for the data center."
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