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MemryX Raises $44 Million in Series B Funding for Advanced Edge AI Computing
Friday, March 28, 2025
ANN ARBOR, Mich., March 27, 2025 /PRNewswire/ -- MemryX, a provider of industry leading Edge AI semiconductor solutions, announced today it has raised $44 million in Series B funding. The funding round received broad support from new and existing investors. This announcement follows MemryX reaching production quality of the industry leading MX3 Accelerator chip, the competitive selection of more than a dozen companies to enter production with MemryX, and independent reviews highlighting the compelling value of the MX3.
"We are thrilled to complete our Series B funding round, which will enable us to ramp our existing production best-in-class MX3 accelerator and complete the design of our groundbreaking MX4," said Keith Kressin, CEO of MemryX. "Our software-first core architecture has enabled us to be extremely capital efficient while developing a robust software stack and support dozens of customers. It also provides a very strong foundation to build our next generation MX4 accelerator."
MemryX MX3 AI solutions deliver higher system performance using less than 10% the power of mainstream GPU solutions for vision-based AI inference. The industry leading MX3 is being designed by numerous customers building solutions such as AI powered Video Management Systems (VMS), Industrial PCs, and a variety of Edge Servers. MemryX software tools and benchmark measures on hundreds of models are available publicly on the MemryX Developer Hub.
MemryX will be showcasing solutions and hardware partners at ISC West 2025 from April 2-4 in Las Vegas. We encourage attendees to meet us and experience our public demonstrations to learn more about MemryX and the growing Edge AI Computing industry.
For more information about MemryX, visit MemryX.com.
About MemryX:
MemryX Inc. is a fabless semiconductor company that designs edge AI processing solutions powered by a proprietary compute-at-memory technology and dataflow architecture. By combining high performance and accuracy with low system power and a high-performance architecture, MemryX solutions power AI needs for a number of industries, including transportation, IoT, and a wide range of industrial and consumer applications. MemryX is backed by leading investors including HarbourVest, M Ventures, eLab Ventures, Motus Ventures and Arm IoT Fund. MemryX has headquarters in Ann Arbor, Mich., with offices in Bangalore, India, Taipei and Hsinchu, Taiwan. www.MemryX.com
Media Contact:
Alan Frost
Head of Corporate Marketing - MemryX
Email: alan.frost@memryx.com
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SOURCE MemryX
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