AlphaICs raises $8 million Series B funding

Bengaluru: AlphaICs Corp., which operates an eponymous startup focused on edge AI and use cases for this technology, has raised $8 million (about Rs 58.5 crore) in a Series B fundraising exercise.

The funding round in AlphaICs, which is based in California and Bengaluru, was led by Endiya Partners and Emerald Technology Ventures, the startup said in a statement.

The company, which operates in India as AlphaICs India Pvt. Ltd was set up in 2016. It operates in the field of edge AI, a system that uses machine learning algorithms to process data on local hardware, as opposed to in the cloud.

AlphaICs claims that its platform, Real AI Processor (RAPTM), enables AI-based acceleration for low-power edge applications and high-performance edge data centers. The company will use the capital to bring its first inference processor to the market, further develop its software stack and build solutions for segments it is targeting.

“While NVidia, Google, and startups like Graphcore are poised to dominate data center AI, AlphaICs has the opportunity to be a market leader in enabling AI at the edge,” said Sateesh Andra, managing director, Endiya Partners.

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