Analog artificial intelligence (AI) processor company Mythic has raised $70 million in Series C funding to accelerate plans for mass production.
The latest funding brings the total funding of Mythic to $165.2 million. This funding round was led by BlackRock and Hewlett Packard Enterprise. The new funding will be used to accelerate plans for mass production of its AI inference solution and increase support for the company’s growing customer base in Asia Pacific, Europe and the U.S.
The company launched its first analog matrix processor for AI applications in November of last year. The device combines both hardware and software allowing companies to deploy to markets such as the smart home, augmented and virtual reality, drones, video surveillance, smart cities and manufacturing.
The M1108 Mythic AMP allows analog computing and integrated flash memory to deliver faster results at much lower costs and power consumption compared to digital processors.