Quadric Adds $10 Million to Series B Funding

BURLINGAME &&num;8211&semi; Quadric, a licensor of general purpose neural processing unit (GPNPU) IP, has completed an extension of its Series B funding round, raising an additional &dollar;10 million of equity and debt financing in addition to the &dollar;21 million equity investment announced in February of this year&period; 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&period;&NewLine;Quadric&&num;8217&semi;s unique Chimera GPNPU was announced in November&period; 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&period; Chimera GPNPUs are an alternative to complicated heterogeneous multicore solutions, simplifying both the design and programming of devices running leading-edge machine-learning algorithms&period;&NewLine;&OpenCurlyDoubleQuote;The market has enthusiastically received the announcement of the Chimera GPNPU,” said Veerbhan Kheterpal, Co-founder and CEO of Quadric&period; &OpenCurlyDoubleQuote;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&period; This Series B funding extension gives us even more financial firepower to bolster that expansion&period;”&NewLine;&OpenCurlyDoubleQuote;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&period; &OpenCurlyDoubleQuote;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&period; 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&period; We are pleased to join in supporting the realization of that vision&period;”&NewLine;

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