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Deep Vision has raised $35M in a Series B funding round led by Tiger Global to accelerate product innovation. It expects to grow from its current headcount of 57 to 75 by the end of 2021 and plans to begin the sampling of ARA-2 in 2022
Palo Alto-based Deep Vision, a developer of AI accelerator chip and software suite for edge computing purposes, raised $35 million in a Series B funding round led by Tiger Global to develop its product, reports state.
Tiger Global is joined by Deep Vision’s existing investors – Exfinity Venture Partners, Silicon Motion, and Western Digital- in this round. Founded in 2015, Deep Vision develops specialized processors for AI edge applications. It is reported that its use cases span retail, driver-monitoring systems, smart city installations, drones and factory automation.
Ravi Annavajjhala, CEO of Deep Vision, stated that the investment is a resounding affirmation of Deep Vision’s accomplishments and strategic direction and added that the company would be able to significantly fortify our efforts in designing and building the world’s most power- and price-efficient AI inference platform as well as flawless software development tools.
Deep Vision’s ARA -1 chip is designed to be power-efficient in edge AI processing for the use cases mentioned above and accelerates natural language processing with support for complex networks such as long short-term memory (LSTMs) and recurrent neural networks (RNNs).
When ARA-1 started sampling last year, we wanted to make sure that we have a fantastic product-market fit with customers. We have several customers, including one big FAANG (Facebook, Amazon, Apple, Netflix and Google) customer that we are shipping to in volume, our product is qualified, it’s in mass production, and now what we are doing is taking that story and sort of replicating across different segments and different customers,Ravi Annavajjhala, CEO of Deep Vision
As per reports, Deep Vision has raised a total of $54 million to date and expects to grow from its current headcount of 57 to 75 by the end of 2021. It is also planning to begin the sampling of ARA-2 in 2022.