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About MemryX
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.
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
Industry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Unlimited Paid Time Off
401(k) Retirement Plan
401(k) Company Match
Growth & Insights and Company News
6 month growth
↑ 3%1 year growth
↑ 3%2 year growth
↑ 5%NEOM teams up with MemryX to supercharge Edge AI in saudi arabia.
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.
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.
MemryX raises $44M to scale Edge AI and develop MX4.
MemryX is Hiring for 2 Jobs on Simplify!
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About MemryX
Industries
Hardware
AI & Machine Learning
Company Size
51-200
Company Stage
Series B
Total Funding
$44M
Headquarters
Ann Arbor, Michigan
Founded
2019
MemryX is Hiring for 2 Jobs on Simplify!
Find jobs on Simplify and start your career today