Varana Capital co-leads $35 Million Series A Round in NeuReality, Joining with Samsung, SKHynix and Other Current and New Investors

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Dec 07, 2022, 16:49 ET

DENVER, Dec. 7, 2022 /PRNewswire/ -- NeuReality, a semiconductor company, recently announced they raised $35 million in a Series A funding round. The round was co-led by Varana Capital, along with Samsung, SKHynix and other notable strategic and financial investors, bringing to $48 million total capital raised to date.The funding will help NeuReality finalize the design and commercialization of their flagship AI inferencing chip in early 2023.

NeuReality accelerates the possibilities of AI by offering a revolutionary solution that lowers the overall complexity, cost, and power consumption. While other companies also develop Deep Learning Accelerators (DLAs) for deployment, no other connects the dots with a software platform purpose-built to help manage specific hardware infrastructure. This system-level, AI-centric approach simplifies running AI inference at scale.

CEO Moshe Tanach told TechCrunch, "NeuReality was founded with the vision to build a new generation of AI inferencing solutions that are unleashed from traditional CPU-centric architectures and deliver high performance and low latency, with the best possible efficiency in cost and power consumption."

Ezra Gardner, co-founder of Varana Capital and NeuReality Board Member, said, "Varana has backed NeuReality from the very first seed round and it has been an immense pleasure to work alongside Moshe and his world-class team. Our belief in NeuReality's mission couldn't be stronger. Demands for AI inference are growing exponentially and there is a global need for the NeuReality solution, which lowers the cost and power consumption of scaling these applications. We are very excited to start shipping these chips next year."

About Varana Capital

Founded in 2012, Varana Capital, LLC, invests in and cooperatively engages with small cap/early-stage public and private companies, primarily in the US and Israel. With offices in Colorado and Israel, VCLLC offers a variety of funds for accredited, long-term investors. For more information visit www.varanacapital.com.

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SOURCE Varana Capital, LLC