Mon. Apr 22nd, 2024
untether ai 125m tracker management intel

Untether AI confirms $125 million in funding to help it consolidate its industry leadership across AI-based inferences and in-memory computation. The investment is being labeled as the biggest early-stage AI-silicon funding round. The main players were Tracker Capital and Intel Capital. The company’s board will have a new member in Dr. Shaygan Kheradpir, Senior Advisor, at Tracker Capital. He was earlier the CEO at Coriant and Juniper Networks while being the Group CIO at Verizon, and the COO at Barclays Bank Group.

Untether AI CEO, Arun Iyengar, is delighted at getting Shaygan Kheradpir on his board. He also feels that Tracker Capital is a valuable addition to the company’s investor group. He feels that the company already engages in several high-value sectors like technology, telecom, defense, retail, and financial services. Tracker Capital’s networks, connections, and experience in varied sectors will drive faster growth in this regard. The integration of CPP Investments into the Untether AI line-up is another positive, in his opinion.

Dr. Kheradpir feels that Untether AI comes with completely expandable architecture, which offers a unique mechanism for scaling up AI-inferences. The flexibility and density (computational) required for current and upcoming AI-based and cloud-based workloads can be met through these solutions, while taking embedded devices into account.

Owing to the rise in AI-based computing and growth in demand for new-age architecture and platforms, the company has been able to tap several attractive growth prospects for the future. It helps companies get rid of computational hurdles, while changing perspectives of effective AI-based computation simultaneously. Untether AI also offers tsunAImi accelerator cards which are RunAI-backed. They offer superior efficiency and density for the scaling up of inferences. The new capital will help the company boost its market leadership while growing its selection of software tools, and building new-generation options alongside. Untether AI offers high-performing processors which power new-age AI-based applications. It has built a path-breaking chip-based architecture for purposes like neural net inferences. This gets rid of the hurdles in data movement along with ensuring better energy consumption and performance. The company started its journey in Toronto around 2018, with investments from CPP Investments, Radical Ventures, Intel Capital, and Tracker Capital.

By earthao