Artificial intelligence chip startups are exploding. And now, there’s one focused on making chips that are energy efficient.
What’s happening:
- RainAI has announced $8.1M USD in new funding as part of an extension of their Series A financing round
- The entire round was financed by Epic Venture Partners
The big idea:
- RainAI is building chips for artificial intelligence computing that are purpose built for energy efficiency and high performance
- RainAI’s hardware leverages in memory compute technology, which enables advanced artificial intelligence models to run locally on various devices with leading edge compute efficiency
- By focusing on in memory computing, RainAI is aiming to be able to equip large artificial intelligence models into small sized hardware such as drones, robotics, virtual reality devices and more
Why it matters:
- The boom in new demand for artificial intelligence cloud computing has also caused major concerns about where the energy will come from to power the rapid rise in data centre infrastructure and has led large technology companies such as Microsoft to begin making historic bets on renewable energy
By the numbers:
- RainAI has now raised $40M USD in venture capital funding since inception
Going deeper:
- RainAI has multiple notable early backers, including Y Combinator, OpenAI co-founder Sam Altman and Pioneer founder Daniel Gross
