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Home > Hardware > NeuroBlade raises $83M in Series B funding

NeuroBlade raises $83M in Series B funding

NeuroBlade announced that the company has raised $83 million in a funding round led by Corner Ventures with a contribution from Intel Capital.

Erdem Yasar by Erdem Yasar
October 12, 2021
in Hardware
1 min read
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NeuroBlade raises $83M in Series B funding
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Israeli startup NeuroBlade announced that the company has raised $83 million in a Series B funding round. The round was led by Corner Ventures with a contribution from Intel Capital and supported by current investors StageOne Ventures, Grove Ventures, and Marius Nacht, a co-founder of Check Point Software Technologies.

$110 million in total

Elad Sity, CEO and co-founder of NeuroBlade
Elad Sity, CEO and co-founder of NeuroBlade

With the new funding round, the total capital investment in the company is raised to $110 million, with its initial $27 million investment. The company stated that the new funding will be used to expand the company’s engineering teams in Tel Aviv and create a global sales and marketing team.

The team aims to change how large amounts of data workloads are processed. Its new data analytics architecture eliminates major data movement bottlenecks, also known as processing-in-memory which allows better and faster data processing. The company currently has over 100 people and has begun shipping its data accelerator to leading-edge worldwide. Elad Sity, CEO and co-founder of NeuroBlade said,

“We invented a new building block in computer architecture so organizations can quickly answer critical problems facing society and vastly improve business opportunities. Our team is at the core of this success. Together, we built a data analytics accelerator that speeds up processing and analyzing data over 100 times faster than existing systems. Based on our patented XRAM technology, we provide a radically improved end-to-end system for the data center.”

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Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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