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Quadric Closed Series B Funding

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Quadric, the market leader in general purpose neural processing unit (GPNPU) processor IP, announced today the new investment and completion of its Series B funding round, raising an additional $10 million in equity and debt financing in addition to the $21 million equity investment announced in February. Xerox Ventures and Mesh Ventures have joined prior investors DENSO, MegaChips, Leawood VC, Pear VC, Uncork Capital, and Cota Capital in supporting Quadric’s unique processor design.

Quadric’s novel ChimeraTM GPNPU was unveiled in November. It is a licensable intellectual property processor core that is sold to semiconductor and system OEM design teams who are creating advanced bespoke silicon chips for a variety of end applications. Chimera GPNPUs are a low-cost alternative to complex heterogeneous multicore solutions, simplifying the design and programming of devices that execute cutting-edge machine-learning algorithms.

According to Business Wire- Co-founder and CEO of Quadric Veerbhan Kheterpal said, “The market has enthusiastically received the announcement of the Chimera GPNPU. 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.”

Quadric.io Inc. is the main licensor of general-purpose neural processor IP (GPNPU), which is capable of running both machine learning inference workloads and traditional DSP and control algorithms. The unified hardware and software architecture of Quadric is geared for on-device ML inference.

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