Fractile Raises $15M Seed Funding to Develop Innovative AI Chip
Fractile is dedicated to pushing the boundaries of AI hardware, aiming to revolutionize how neural networks are deployed in various applications.
Company Name: Fractile
Location: London, UK
Sector: AI Technology, Semiconductor
Funding Details: Raised $15M in Seed funding, bringing the total funding to $17.5m (£14m). The round was led by Kindred Capital, NATO Innovation Fund, and Oxford Science Enterprises, with additional participation from Cocoa, Inovia Capital, and notable angel investors such as Hermann Hauser, Stan Boland, and Amar Shah.
Purpose of Investment: To expand the team across silicon, software, and AI domains, build strategic partnerships, and accelerate the development of its first products.
Leadership: Founded by Walter Goodwin in 2022, who completed a PhD in Artificial Intelligence and Robotics at the University of Oxford. His research focused on leveraging early Large Language Models (LLMs) and other foundational models for general purpose robotics.
Product and Innovation: Fractile is developing a new type of AI chip designed to run AI models more efficiently. This chip aims to enhance the performance of large and complex neural networks, making them faster, more efficient, and more sustainable. The technology includes patented circuits and a unique approach to in-memory computing.
Company Growth: With senior team members from NVIDIA, ARM, and Imagination, Fractile is positioning itself at the forefront of AI and semiconductor innovation. The company is currently engaging with potential partners and expects to sign agreements that will support the production of its first commercial AI accelerator hardware.
About the Company: Fractile is dedicated to pushing the boundaries of AI hardware, aiming to revolutionize how neural networks are deployed in various applications. The company's innovative approach could significantly impact sectors requiring advanced AI capabilities, such as autonomous vehicles, data centers, and consumer electronics.
Future Plans: Fractile intends to leverage the new funding to continue its growth, finalize its product development, and prepare for the commercial launch of its AI chips. With its strong foundation in research and development and strategic industry connections, Fractile is well-positioned to become a key player in the AI technology space.