Edge Impulse Reels In $34 Million Series B

<p><strong>SAN JOSE<&sol;strong> &&num;8212&semi; Edge Impulse has reeled in &dollar;34 million in Series B funding led by Coatue&comma; tripling its 2022 market valuation and growth forecast&period; Coatue joins existing investors&comma; Canaan Partners&comma; Acrew Capital&comma; Fika Ventures&comma; Momenta Ventures&comma; and Knollwood Investment Advisory&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We are excited to have David Cahn&comma; a Partner at Coatue&comma; join our board and help us drive forward our vision of edge ML for developers building enterprise-grade solutions&comma;” said Zach Shelby&comma; Edge Impulse Co-founder and CEO&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;With more data being collected every year&comma; compute is shifting towards the edge&comma; creating a big market opportunity for machine learning&comma;” said David Cahn&comma; a Partner at Coatue&period; &OpenCurlyDoubleQuote;This is why we are excited to back Edge Impulse&comma; which we believe is emerging as the leading platform for developers to rapidly build and deploy machine learning solutions&period; We are proud to partner with Zach&comma; Jan and the rest of the team on their journey to being the leader in this category&period;”<&sol;p>&NewLine;<p>Since launching in 2019&comma; nearly 30&comma;000 developers from thousands of enterprises have created over 50&comma;000 custom ML projects using Edge Impulse&comma; building smarter industrial&comma; logistics&comma; consumer and health solutions with customers including Oura&comma; Polycom&comma; Advantech and NASA&period; Last year alone&comma; the developer base has increased by 4x&comma; with annual recurring revenue growing by 3x&period;<&sol;p>&NewLine;