Adapteva Closes $3.6M Series B Funding

adaptevaAdapteva Inc., a Lexington, Massachusetts-based semiconductor manufacturer, closed a $3.6m Series B funding round.

Backers included Carmel Ventures and Ericsson.

The company intends to use the funds to reinforce its long-term plans.

Founded in 2008 by Andreas Olofsson, CEO, Adapteva has developed an energy efficient and scalable multicore processor chip, designed for parallel computing.

To bring its solution to a wider audience, Adapteva launched the Parallella Project in 2012. With $898,921 raised via a Kickstarter crowd-funding campaign, Adapteva developed the Parallella board, a credit card-sized computer for $99, which has an ARM processor, an FPGA and the Epiphany parallel processor working together on the board, all consuming less than 5 Watts of power. Initial shipments started in July 2013 and shipment to all 6,300 backers is being finalized in Q1 of 2014.



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