MemryX

MemryX

Scalable Edge AI processing solutions

About MemryX

Simplify's Rating
Why MemryX is rated
C
Rated D+ on Competitive Edge
Rated C on Growth Potential
Rated B on Differentiation

Industries

Hardware

AI & Machine Learning

Company Size

51-200

Company Stage

Series B

Total Funding

$44M

Headquarters

Ann Arbor, Michigan

Founded

2019

Overview

MemryX specializes in Edge AI processing, offering a solution that simplifies AI integration into systems like adding DRAM. Their technology allows for easy optimization of AI models without losing accuracy and supports scalable performance through the addition of chiplets. The MX3 AI accelerator chip, their main product, has been successfully demonstrated in a Lenovo desktop PC, indicating a new market for standalone AI accelerator cards. MemryX aims to lead in Edge AI processing by providing a unique and efficient solution for AI integration.

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Simplify's Take

What believers are saying

  • MemryX raised $44M to scale Edge AI and develop the MX4 chip.
  • Partnership with NEOM aligns with smart city projects, enhancing market opportunities.
  • Variscite partnership reduces development time and maximizes processing efficiency.

What critics are saying

  • Increased competition in edge AI could pressure MemryX's market share.
  • Rapid AI advancements may render MemryX's technology obsolete if innovation lags.
  • Geopolitical tensions in Taiwan could disrupt MemryX's operations and supply chains.

What makes MemryX unique

  • MemryX uses proprietary compute-at-memory technology for efficient edge AI processing.
  • Their MX3 chip integrates easily into PCs, offering a unique market advantage.
  • MemryX's scalable architecture supports multiple AI models without manual tuning.

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Funding

Total Funding

$44M

Above

Industry Average

Funded Over

1 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$44M
MemryX
$45M
Linktree
$65M
Substack
$100M
ClickUp

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Unlimited Paid Time Off

401(k) Retirement Plan

401(k) Company Match

Growth & Insights and Company News

Headcount

6 month growth

↑ 3%

1 year growth

↑ 3%

2 year growth

↑ 5%
Wasssl
May 8th, 2025
NEOM Teams Up with MemryX to Supercharge Edge AI in Saudi Arabia

NEOM teams up with MemryX to supercharge Edge AI in saudi arabia.

Jawlah
May 7th, 2025
Neom Fund Invests in MemryX AI Tech

NEOM Investment Fund has announced a strategic partnership with US-based MemryX to accelerate the development and deployment of next-generation energy-efficient edge AI accelerators. MemryX's advanced AI accelerator technology, MX3, offers high performance with low energy consumption, supporting various edge applications. This investment aligns with NEOM's vision of a future based on AI and energy efficiency, enhancing the adoption of advanced computing solutions and fostering an innovation-driven knowledge economy.

One Arabia
May 5th, 2025
NEOM Invests in MemryX for Edge AI

NEOM Investment Fund (NIF) has invested in US-based MemryX to advance energy-efficient edge AI computing solutions. This collaboration aims to accelerate the development of AI accelerators crucial for NEOM's intelligent digital infrastructure. NIF CEO Majid Mufti emphasized the investment's role in realizing NEOM's AI-native future. MemryX CEO Keith Kressin highlighted the partnership's significance for future cities. This move supports NEOM's goal of establishing a cognitive, AI-driven economy.

Hosting Journalist
Mar 31st, 2025
MemryX Raises $44M to Scale Edge AI and Develop MX4

MemryX raises $44M to scale Edge AI and develop MX4.

Finsmes
Mar 27th, 2025
MemryX Raises $44M in Series B Funding

MemryX raises $44M in Series B funding.

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