CogniFiber, an Israel-based startup developing photonic AI accelerators for IoT analytics using cutting-edge photonic deep learning processors, has raised US$ 6 million in a Series A funding round led by Chartered Group on 9 February 2022.
Investors: The latest investment round featured Chartered Group, a private equity organization having prowess in disruptive technologies with a market presence in Asia and Europe, as the lead investor. The startup has managed to raise, in total, US$ 8.5 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round to overcome the existing processing speed impediments to offer numerous AI-enabled business propositions.
Brought to existence in 2018 by Dr Eyal Cohen and Ze’ev Zalevsky, CogniFiber envisages employing a photonic computing solution to develop a robust AI infrastructure. The company is poised to finish its premier complete system prototype by April 2022. Its premier offerings, expected to launch by the fourth quarter of 2023, employ a trainable photonic auto-encoder neural network system. It has a modest power consumption of less than 500 Watts and over 400 million tasks per second projected inference performance. Its premiere line of offerings is pertinent for cybersecurity and industrial IoT use. Users can employ verticals to solve numerous real-time, auto-encoder and on-premises based functions, including anomaly detection, compression, transformation, and de-noising.
What the Founder has to say: “The latest technology, enabling us to solve intricate algorithms in a small amount of time, has made Moore’s law outdated. In-fibre processing permits the realization of a 100-fold increase in efficiency and processing speed.”- Dr Eyal Cohen, Co-Founder and CEO of CogniFiber. “Intel’s senior-level engineers were exhilarated to explore all the features of our tech, assessing its potential to transform the way computers run currently. The technology will allow us to fulfil the promise of providing photonic computing for AI-developed medicines, safety, cybersecurity, autonomous driving, and several other purposes.”- Professor Ze’ev Zalevsky, Co-Founder and Chief Technology Officer of CogniFiber.
What the Investor has to say: “The balance between the tradition of top-notch, value-driven technologies amongst Japanese investors and Israel’s flexible approach to innovation build a unique synergy where entrepreneurs believe they have true collaborators. Jointly, both parties will enter the new age of photonic computing.”- Eyal Agmoni, Founder and Chairman of Chartered Group.
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