In a significant leap forward for AI-based computing, Recogni Inc., an industry-leading Artificial Intelligence (AI) firm, has successfully secured a whopping $102 Million in a Series C funding round. This funding extravaganza was jointly spearheaded by Celesta Capital and GreatPoint Ventures, with contributions from existing investors like Mayfield, DNS Capital, BMW i Ventures, and SW Mobility Fund. Additional participants included new investors Pledge Ventures and Tasaru Mobility Investments, a wholly-owned subsidiary of the Public Investment Fund (PIF), with debt components provided by HSBC Innovation Banking.
This considerable influx of capital will elevate Recogni's advancements in creating next-gen AI inference solutions. Such solutions aim to ramp up both performance and power efficiency levels while ensuring a competitive total cost of ownership. As AI technology accelerates forward, with model sizes expanding significantly, AI inference - the procedure to compute predictions or tasks using trained models and live data - needs to become more efficient and performant than previously possible. It's an improvement necessary to ensure a broad, sustainable application of AI across diverse markets.
Recogni's scalable, power-efficient techniques for AI inference acceleration are set to innovate new potentials in critical fields like generative AI and intelligent autonomy. According to Marc Bolitho, CEO of Recogni, his company's groundbreaking advances will revolutionize industries from automotive to aerospace and redefine data centers and enterprise, by addressing the increasing need for solutions that can handle AI inference processing challenges like compute capability, scalability, accuracy, and energy-saving.
The inefficiencies and high power consumption of prevalent AI acceleration solutions make them unsuitable for the AI requirements of the future. Presently, cloud-based AI training and inference systems primarily use power-intensive GPUs, placing excessive pressure on the compute capacity, cooling, and power systems of data centers. Recogni is here to change this situation - by providing a fundamental transformation in inference processing, their scalable solutions will resist the test of time.
Ashok Krishnamurthi, managing partner at GreatPoint Ventures, commented that Recogni’s 10x higher compute density, 10x lower power, and 13x lesser cost per query solution makes it an attractive investment proposition, especially considering the underestimation of future AI application's compute demand and the critical importance of addressing power consumption.
Recogni's first low-power AI compute product, Recogni Scorpio, introduced in December 2022, validates Recogni's vision and ability to break barriers in AI computing. Recogni Scorpio is the world’s first 1000 TFLOPS (1 Peta-Flop) class inference solution at the lowest power for various inference applications, offering scalable performance with each generation.
About Recogni Inc., Celesta Capital, and GreatPoint Ventures:
Recogni Inc. is an AI-based inference processing solutions company for generative AI and intelligent autonomous platforms. It has offices in San Jose, California, and Munich, Germany.
Celesta Capital is a global venture capital firm specializing in deep technology, with a track record of building and scaling global businesses.
GreatPoint Ventures is an early-stage venture capital firm founded by entrepreneurs who aim to solve big problems across industries, from enterprise to healthcare, biotech, and food.