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EdgeQ raises USD 75 million in Series B funding

Edge Computing

Apr 19, 2023

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Edge Computing

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Apr 19, 2023

EdgeQ raises USD 75 million in Series B funding

Funding

EdgeQ, an AI system on a chip (SOC) manufacturer, raised USD 75 million in Series B funding from Phaistos Investment Fund, Strategic Development Fund EDBI, and IRONGREY, among several others. This round brings the company’s total funding to USD 126 million.
The company plans to use the funding to increase production of its SOC to meet demand and develop its next-generation processor.
Analyst QuickTake : The edge AI processor manufacturing space has seen a recent influx of funding with companies such as Mythic raising USD 13 million last month, and Axelera AI , SiMa.ai , and Kneron raising USD 27 million , USD 37 million , and USD 48 million , respectively, last October.

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