Eta Compute Secures $8 Million Series A Financing to Accelerate Development of the 3rd Generation of Neural Networks

WESTLAKE VILLAGE, Calif., January 22, 2018 – Eta Compute Inc., a company focused on delivering 3^rd generation machine intelligence to mobile and edge devices, today announced it has completed an $8 million Series A round of financing. The oversubscribed series was led by Walden International with additional participation from Acorn Pacific Ventures and Walden Riverwood Ventures.

The funding will help deliver the 3rd generation of neural networks based on spiking neural networks (SNN). SNNs deliver machine intelligence based on biologically-realistic models of neurons to carry out brain inspired computation techniques.

“Eta Compute’s fully programmable low power processor supports neuromorphic machine learning that can run learning tasks more efficiently than traditional computers,” said Gopal Raghavan, CEO of Eta Compute. “The Series A funding will help accelerate the development of our machine intelligence hardware platform and AI applications.”

Eta Compute’s power efficient Delay Insensitive Asynchronous Logic (DIAL™) signaled the company’s first step toward enabling intelligence for embedded systems and devices. With the extraordinary low power of DIAL Technology, Eta Compute delivers power efficient machine intelligence on mobile and edge devices.

“Most edge applications have limited capabilities and accuracy due to excessive power consumption, said Lip-Bu Tan of Walden International and a Board member of Eta Compute. Eta Computes machine learning algorithms running on their low power embedded platform will lead to an explosion in both the number of applications as well as the number of devices running those applications.”

The Series A funding builds on an exceptional year for Eta Compute, which saw a growing list of customers, the addition of Dr. Narayan Srinivasa as Chief Technology Officer, and technology innovations in machine intelligence, and neuromorphic architectures and applications.

About Eta Compute

Eta Compute was founded in 2015 with the vision that the proliferation of intelligent devices at the network edge will make daily life safer, healthier, comfortable and more convenient without sacrificing privacy and security. It’s recently launched DIAL™ Technology is the world’s lowest power embedded computing platform and is a natural architecture to support machine learning and machine intelligence in portable devices. For more information visit EtaCompute.com.