Neural Magic, a Somerville, Massachusetts-based AI company building a software platform for deep learning inference, raised $30m in Series A funding.
The round, which brought total amount raised to date to $50m, was led by existing investor NEA with participation from Andreessen Horowitz, Amdocs, Comcast Ventures, Pillar VC, and Ridgeline Ventures. In conjunction with the financing, NEA’s Greg Papadopoulos will join Neural Magic’s board of directors.
The company intends to use the funds to expand operations and its business reach, as well as advance its leadership in pure software machine learning acceleration.
Spun out of MIT by founders Nir Shavit and Alexander Matveev and led by Brian Stevens, CEO, Neural Magic creates algorithms and tools that bring software, rather than specialized hardware, to the center stage in machine learning (ML) infrastructure. The company creates machine learning models that deliver GPU class performance on commodity CPU hardware, creating a flexible world of AI delivered and executed purely in software.
Since open sourcing their machine learning tools earlier this year, Neural Magic has seen growing adoption across the machine learning community.
FinSMEs
05/10/2021