Israeli data analytics company NeuroBlade today announced the completion of a $83 million Series B financing round, led by Corner Ventures with participation from Intel Capital, and existing investors StageOne Ventures, Grove Ventures and Marius Nacht. Tech companies including MediaTek, Pegatron, PSMC, UMC and Marubeni also provided funding during this round. This round brings the total amount raised by the company to $110 million, Trend reports with reference to Globes.
The new funds will be used to expand NeuroBlade's engineering teams in Tel Aviv and develop marketing and sales globally.
NeuroBlade has developed a new data analytics architecture that eliminates major data movement bottlenecks by integrating the data processing function inside memory, better known as processing-in-memory (PIM).
The company was founded by CEO Elad Sity and CTO Eliad Hillel and already has more than 100 employees. NeuroBlade has begun shipping its data accelerator to leading-edge customers and partners worldwide. This has seen these partners starting to integrate and deploy NeuroBlade into the world’s biggest data centers.
Sity said, "We invented a new building block in computer architecture so organizations can quickly answer critical problems facing society and vastly improve business opportunities. Our team is at the core of this success. Together, we built a data analytics accelerator that speeds up processing and analyzing data over 100 times faster than existing systems. Based on our patented XRAM technology, we provide a radically improved end-to-end system for the data center."