Series B Funding Expands Quadric’s Product Roadmap and Scope of Product Capabilities
Quadric, the company building the industry’s most advanced high-performance edge processing platform optimized for on-device AI at the network edge, announced today a $21M Series B funding round. NSITEXE, Inc., a group company of a leading mobility supplier DENSO, led the round with major investment from MegaChips. Existing investors Leawood VC, Pear VC, Uncork Capital, and Cota Capital also participated in the round.
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Quadric’s unique ability to handle both neural backbones and classical dynamic data-parallel algorithms in a unified architecture is helping to create AI for everyone, everywhere. Most other solutions combine high-power CPU clusters with application specific NPUs. Quadric’s unified architecture is flexible enough to accelerate the entire application pipeline without the need for a powerful CPU.
“It’s an exciting time to be able to partner with industry powerhouses in semiconductors and AI to bring accelerated computing to the Edge,” said Veerbhan Kheterpal, Co-founder and CEO of Quadric. “The market is saturated with rigid accelerators. Our product fills the void with a fully programmable multi-kernel processing architecture.”
The investment will enable the company to release the next version of their novel processor architecture, improve quadric SDK performance, and roll out Intellectual Property (IP) products for integration in System on Chips (SoCs). Quadric’s second-generation architecture will improve topline performance, consume less power, and maintain the familiar m.2 form factor for developer use and deployments. Samples of second-generation silicon products will be available at the end of this year. Quadric will expand the team and hire in these key product areas. Visit quadric.io/team to learn more.
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“As the AI market matures, businesses are under pressure to accelerate machine learning initiatives and need production-ready, easy-to-deploy AI solutions that don’t require building from the ground up,” said Tony Cannestra, director of Corporate Ventures at DENSO. “Having evaluated Quadric’s q16 processor, its ability to run many types of algorithms efficiently and flexibly allows Quadric’s platform to enable AI in new services and products. We look forward to continuing to work closely with Quadric and plan to integrate their IP into DENSO’s SoC products.”
“Our continued investment into an Edge AI leader like Quadric reflects our commitment to supporting disruptive AI-based on-device edge computing solutions,” said Douglas Fairbairn, Director of Business Development at MegaChips. “Their stellar team, market traction with important customers and innovative edge AI solution all contributed to our decision to invest in Quadric. We are proud to work with Quadric to bring its end-to-end architecture products to our mutual customers in the form of customized silicon.”
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