Nyriad Limited, a Cambridge, New Zealand-based exascale computing company, completed an US$8.5M Series A funding.
– Data Collective VC of Palo Alto,
– Prelude Ventures of San Francisco,
– East Ventures and IDATEN Ventures of Japan, and
– New Zealand Venture Investment Fund (NZVIF) in New Zealand.
– Ice Angels and Enterprise Angels, two New Zealand angel groups, plus
– several family desks.
The company, which has raised over US$11m to date, intends to use the capital for the continuing expansion of the business in Cambridge, New Zealand, including further investment in expanding its engineering resources and release of its first product to market in Q1’18.
Founded in 2014 and led by Matthew Simmons, CEO, Nyriad specializes in the use of GPUs for converging computing to minimize data movement during processing of large data sets, improving power consumption and accelerating performance for next-generation data centres and supercomputers.
The software will be commercially available in the first quarter of 2018.