Tachyum, an edge processor manufacturer, has secured EUR 26.4 million (USD 28.5 million) in funding as a grant from the European Commission as part of a broader EUR 8.1 billion (~USD 8.7 billion) grant to support research and innovation for next-gen semiconductors in Europe.

Tachyum, which was among 56 firms selected across 14 EU countries, will use the funding to accelerate the delivery of its Prodigy 2 Universal Processor.

Analyst QuickTake: The US-based edge AI processor manufacturing space has seen a recent influx of funding with companies such as SiMa.ai , Axelera , EdgeQ , and Mythic raising USD 13 million, USD 23 million , USD 75 million , and USD 13 million , respectively, in the last 3 months. While Tachyum does not have as high levels of funding as its US-based counterparts, it aims to differentiate itself with its next-gen “universal” processor, which unifies the functionality of CPU, GPU, and TPU into a single chip.