Recogni, a leading AI-based computing company, has announced the successful closure of a $102 million Series C funding round. This round was co-led by Celesta Capital and GreatPoint Ventures, with participation from existing investors Mayfield, DNS Capital, BMW i Ventures, and SW Mobility Fund, along with new investors Pledge Ventures and Tasaru Mobility Investments, a subsidiary of Public Investment Fund (PIF). Additionally, HSBC Innovation Banking provided debt financing.
The funding will fuel the development of next-generation system solutions for AI inference, aimed at enhancing performance, power efficiency, and reducing the total cost of ownership.
The landscape of AI technology is evolving rapidly, with increasing model sizes and advancements driving the need for more efficient AI inference solutions. Recogni’s innovative approach to scalable and power-efficient AI inference acceleration is poised to address these challenges, particularly in critical domains such as generative AI and intelligent autonomy.
Marc Bolitho, CEO of Recogni, highlighted the urgency of bridging the gap between growing AI demands and existing computing capabilities. He emphasized Recogni’s commitment to engineering transformative advancements that will reshape industries such as automotive and aerospace by redefining data centers and enterprise operations.
Traditional AI acceleration methods, predominantly reliant on power-intensive GPUs, face limitations in scalability and sustainability. Recogni’s groundbreaking inference processing techniques offer a fundamental shift in addressing the compute demands of AI workloads, with scalability and efficiency at the forefront.
Ashok Krishnamurthi, managing partner at GreatPoint Ventures, emphasized the significance of Recogni’s solution, which offers substantially higher compute density, lower power consumption, and reduced operational costs. He underscored the critical role of addressing power consumption in enabling the widespread adoption of AI applications.
Sriram Viswanathan, founding managing partner of Celesta Capital and chairman of Recogni’s Board of Directors, praised Recogni’s technology for raising the bar in power performance, particularly in addressing the compute needs of AI workloads. He highlighted the market demand for Recogni’s purpose-built solutions and expressed confidence in the company’s ability to meet evolving industry requirements.
Recogni’s introduction of Recogni Scorpio, its first low-power AI compute product, further validates its vision and capability in breaking barriers in AI compute. Scorpio, boasting world-class performance at the lowest power consumption, reaffirms Recogni’s commitment to delivering scalable and efficient AI solutions across various applications.
With the infusion of funds from the Series C round, Recogni is poised to accelerate its mission of advancing AI inference systems, driving innovation, and meeting the evolving needs of the AI landscape.
