Venture Capital

Quadric Adds $10 Million to Series B Funding

BURLINGAME – Quadric, a licensor of general purpose neural processing unit (GPNPU) IP, has completed an extension of its Series B funding round, raising an additional $10 million of equity and debt financing in addition to the $21 million equity investment announced in February of this year. Xerox Ventures and Mesh Ventures are the latest investors to back Quadric’s innovative processor architecture, joining existing investors DENSO, MegaChips, Leawood VC, Pear VC, Uncork Capital, and Cota Capital.

Quadric’s unique Chimera GPNPU was announced in November. It is a licensable intellectual property processor core sold to semiconductor and systems OEM design teams building advanced custom silicon chips for a wide range of end applications. Chimera GPNPUs are an alternative to complicated heterogeneous multicore solutions, simplifying both the design and programming of devices running leading-edge machine-learning algorithms.

“The market has enthusiastically received the announcement of the Chimera GPNPU,” said Veerbhan Kheterpal, Co-founder and CEO of Quadric. “We are rapidly ramping up our commercial teams to engage customers and continuing to expand our top-notch engineering organization to deliver our GPNPU and our world-class software tools for application development. This Series B funding extension gives us even more financial firepower to bolster that expansion.”

“Machine learning processing is increasingly critical to the success of systems, products and devices across nearly every end market category,” said Dean Mai, investment director at Xerox Ventures. “Quadric has taken a software first approach and has created a unique unified architecture that allows for all software and machine learning processing to be done on a single chip, eliminating latency and bandwidth bottlenecks. We were impressed with the unique competitive advantages that Quadric brings to the market, as well as the strong, experienced team the company has assembled to deliver the founders’ vision. We are pleased to join in supporting the realization of that vision.”