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NEUROMORPHIC PROCESSOR STARTUP INNATERA RAISES $21M

Company spun out of the Delft University of Technology in 2018

July 01, 2024 By Charlotte Trueman Have your say
Facebook Twitter LinkedIn Reddit Email Teilen


Neuromorphic processor company Innatera has raised $21 million in an extended
Series A funding round.

The company initially raised $16m in March but the round was oversubscribed,
leading to the startup raising an additional $5m from new investors this month.

Investors in the original round include EIC Fund, MIG Capital, Matterwave
Ventures, and Delft Enterprises.

– Sebastian Moss

Founded in 2018 and based in Rijswijk, the Netherlands, the company was spun out
of the Delft University of Technology. In January, Innatera unveiled its Spiking
Neural Processor T1 - an ultra-low power processor.

Comprising of the company’s proprietary event-driven computing engine, a RISC-V
CPU, and a convolutional neural network accelerator, Innatera claims it “unlocks
groundbreaking applications in battery-powered, power-limited, and
latency-critical devices” such as wearables, smart home devices, and consumer
electronics applications.

Innatera says that by using a highly efficient analog-mixed signal neuromorphic
architecture, it allows sensor data to be processed with 500x less energy and
100x faster in comparison to conventional approaches.

Production of the T1 is expected later this year, with high-volume deliveries
slated for Q2 of 2025.

“We’re thrilled by the overwhelming support from investors, which underscores
the immense potential of our neuromorphic processors,” said Sumeet Kumar, CEO of
Innatera. “Innatera’s latest offering is radical in terms of its architecture
and its efficiency, yet it only scratches the surface of what neuromorphic
computing can do for Edge applications.

He added that the funding will accelerate Innatera’s journey towards mass
production and enable it to “meet the burgeoning demand for energy-efficient
computing solutions.”

Subscribe to The Investment & Markets Channel for regular news round-ups, market
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TAGS

 * Delft Enterprises
 * EIC Fund
 * Neuromorphic chips
 * neuromorphic computing
 * Innatera
 * Spiking Neural Processor T1
 * Sumeet Kumar
 * Matterwave Ventures
 * MIG Capital



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