Recogni, an artificial intelligence (AI)-based computing company, has closed its Series C funding round, securing $102 million.
The funding will be used to advance the development of next-generation systems for AI inference solutions aimed at significantly improving performance and power efficiency while minimizing total cost of ownership, the company said on Tuesday. (February 20) in a press release.
According to the release, Recogni’s scalable and power-efficient AI inference acceleration technology is poised to unlock new possibilities in AI computing, particularly in areas such as generative AI and intelligent autonomy.
Recogni CEO Marc Bolitho emphasized the need to address key challenges in AI inference processing, including computational power, scalability, accuracy, and energy savings. Bolitho emphasized the importance of keeping pace with rapidly expanding AI models and evolving computing capabilities, and said Recogni is at the forefront of engineering advances transforming data centers, enterprises, and industries such as automotive and aerospace. I said it’s on the front lines.
The company’s latest funding round was co-led by Celesta Capital and GreatPoint Ventures, according to a release.
Recogni’s AI acceleration solution is expected to meet the growing compute demands of AI applications by delivering 10x more compute density, 10x more power consumption, and 13x more cost per query. Ashok Krishnamurthi, managing partner at GreatPoint Ventures, said in a release.
Sriram Viswanathan, Founding Managing Partner of Celesta Capital and Chairman of Recogni’s Board of Directors, said Recogni’s technology can provide efficient inference computing solutions to address the computing needs of AI workloads. Ta.
Recogni’s first low-power AI computing product, Recogni Scorpio, provides a low-power AI computing solution with 1 petaflop class inference capabilities, the release states.
According to the release, Recogni will use the Series C funding round to further develop its AI solutions to meet the growing market demand for efficient and scalable AI computing products.
In another recent development in the space, OpenAI CEO Sam Altman announced on Friday (February 16) that he is seeking US government approval for an initiative aimed at ramping up global manufacturing of AI chips. It was reported.
The lack of graphics processing units (GPUs), which are essential to running AI applications, is a major concern for OpenAI. Currently, Nvidia dominates the market with more than 80% of the global market share.
