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Industries
Hardware
AI & Machine Learning
Company Size
51-200
Company Stage
Series B
Total Funding
$44M
Headquarters
Ann Arbor, Michigan
Founded
2019
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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Total Funding
$44M
Above
Industry Average
Funded Over
1 Rounds
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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.
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Industries
Hardware
AI & Machine Learning
Company Size
51-200
Company Stage
Series B
Total Funding
$44M
Headquarters
Ann Arbor, Michigan
Founded
2019
Find jobs on Simplify and start your career today