MemryX, a leading provider of cutting-edge Edge AI semiconductor solutions, has successfully raised $44 million in its Series B funding round. This milestone, backed by a mix of new and existing investors, underscores the growing industry confidence in MemryX’s AI acceleration technology.
The funding comes at a pivotal time, following the production readiness of the MX3 Accelerator chip, the selection of over a dozen companies for production with MemryX, and independent evaluations recognizing the exceptional efficiency and performance of MX3.
Scaling Production & Advancing AI Acceleration
With the newly secured funds, MemryX is set to scale production of the MX3 AI accelerator while advancing development of its next-generation MX4 AI accelerator.
“We are thrilled to complete our Series B funding round, which will enable us to ramp our best-in-class MX3 accelerator and finalize the design of our groundbreaking MX4,” said Keith Kressin, CEO of MemryX. “Our software-first core architecture has allowed us to be extremely capital efficient while building a strong software ecosystem that supports dozens of customers. This foundation is key to driving the success of our next-generation AI solutions.”
MX3: Redefining AI Performance & Efficiency
The MemryX MX3 AI accelerator delivers superior system performance while consuming less than 10% of the power required by mainstream GPUs for vision-based AI inference. The MX3 is already being adopted by multiple customers for applications including:
AI-powered Video Management Systems (VMS)
Industrial PCs & Edge Computing
Next-gen Edge Servers
MemryX provides a robust developer ecosystem through its Developer Hub, offering software tools, benchmark tests, and model performance metrics to support a wide range of AI applications.