The startup NeuReality Ltd. has disclosed that it has raised USD 35 million in funding to market its NR1 chip, which is intended to accelerate applications utilizing artificial intelligence.
Samsung Ventures, Cardumen Capital, Varana Capital, OurCrowd, and XT Hitech took the lead in the Series A funding round. Several additional institutional backers also took part. The NR1 system-on-chip was created by the Israeli company NeuReality and is intended to carry out AI inference tasks. The NR1 can power a range of AI workloads, including natural language processing models and product recommendation engines, according to NeuReality.
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Since May of last year, partners have reportedly received NR1 prototype implementations from NeuReality. The startup intends to expand the use of its technology with the USD 35 million in funding it recently announced.
Read More: AI chip startup NeuReality raises $35M in funding
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