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Neural Magic Announces $30 Million Series A Funding Led By Nea

Oct 06, 2021•almost 4 years ago

Amount Raised

$30 Million

Round Type

series a

Somerville

Description

Proceeds to Accelerate Growth of Software-Delivered AI

Company Information

Company

Neural Magic

Location

Somerville, Pennsylvania, United States

About

Neural Magic is making deep learning faster, affordable, and flexible with automated model sparsification technologies that minimize footprint and allow models to run on CPUs at GPU speeds. The company is spun out of MIT by founders Nir Shavit and Alexander Matveev who were frustrated by the limitations in memory size and software complexity imposed by GPUs. Neural Magic investors include Amdocs, Andreessen Horowitz, Comcast Ventures, NEA, and Pillar VC.

Funding Insights

Based on industry data
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