Wave Computing, a Campbell, CA-based provider of dataflow-based systems and embedded solutions for AI and deep learning, closed an $86m Series E funding.
The round, which brought totat funding raised to date to over $200m, was led by Oakmont Corporation with participation from existing investors. In conjunction with the funding, Greg Corona of private investment firm Lakewood & Company, will be joining Wave’s Board on behalf of Series E investors.
The company intends to use the funds for worldwide growth and evolution of its structure in support of its strategic and commercial scale out plans for 2019 and beyond.
Led by Derek Meyer, Chief Executive Officer, and Dado Banatao, Founder and Chairman, Wave Computing is advancing AI with its dataflow-based architecture, systems and solutions. The company’s vision is to “follow the data” and bring deep learning to customers’ data wherever it may be—from the datacenter to the edge of the Cloud.
In June 2018, the company announced the acquisition of MIPS Tech, Inc., a global leader in RISC processor Intellectual Property (IP) and licensable CPU cores, to accelerate its strategy of offering AI acceleration from the Datacenter to the Edge of Cloud by extending its products beyond AI systems to also include AI-enabled embedded solutions.
The company offers its solutions to customers globally via a team of more than 200 people in the United States, Sri Lanka and the Philippines.