Innatera, a pioneer in ultra-low power neuromorphic processors, has successfully closed an oversubscribed Series A funding round, securing a total of $21 million. This funding includes the initial $16 million raised in March 2024, along with an additional $5 million from new investors. Leading this round are Innavest and InvestNL, alongside existing investors EIC Fund, MIG Capital, Matterwave Ventures, and Delft Enterprises.
The CEO of the company, Sumeet Kumar, expressed his excitement over the strong investor support, emphasizing the transformative potential of Innatera’s neuromorphic processors. “We’re thrilled by the overwhelming support from investors, which underscores the immense potential of our neuromorphic processors. Innatera’s latest offering is revolutionary in its architecture and efficiency, yet it only scratches the surface of what neuromorphic computing can achieve for edge applications. I’m excited about the opportunities ahead of us and the collaboration with our customers and strategic partners to leverage the full potential of this technology. This Series A funding will expedite our journey towards mass production and enable us to meet the increasing demand for energy-efficient computing solutions,” Kumar stated. The funds will accelerate Innatera’s path towards mass production, with the goal of bringing intelligence to a billion devices by 2030.
Innatera’s flagship product, the Spiking Neural Processor T1, introduced in January 2024, represents a significant advancement in energy-efficient AI for sensor-edge applications. This processor combines a proprietary event-driven computing engine with a conventional CNN accelerator and RISC-V CPU, creating a versatile platform for ultra-low power AI in battery-powered devices. The T1 processor has demonstrated its capabilities across various applications, including wearables, smart home devices, and consumer electronics.
The demand for differentiated, energy-efficient AI solutions at the edge is rapidly increasing due to the expanding sensors market and concerns about environmental sustainability. Innatera’s approach meets these needs by offering an innovative analog-mixed signal neuromorphic architecture. This architecture enables real-time sensor data analysis with minimal power consumption and latency, making it ideal for always-on scenarios.
The Series A funding will also support the company’s goal of commencing high-volume production of the Spiking Neural Processor T1 by Q2 2025. This advancement is crucial as vendors develop true edge AI applications independent of the cloud, driven by power constraints, privacy, and latency concerns.
Kjelle Blom, managing partner of Innavest, commended Innatera’s impressive track record and the potential of its neuromorphic technology. “Innatera’s track record is impressive – remarkable capital-efficiency, a fantastic team, and a product with the potential to touch every aspect of our lives. Innavest is excited to bring our strategic expertise and network to support Innatera’s mission,” Blom said.
To further strengthen its growth, Innatera has appointed Duco Pasmooij, former VP at Apple, to its advisory board. Pasmooij highlighted the significance of silicon innovations like the Spiking Neural Processor T1 for unlocking value in the consumer electronics space, expressing his enthusiasm to advise Innatera’s executive team.
Founded after a decade of research at Delft University of Technology, Innatera leads in energy-efficient neuromorphic computing. The company aims to make the world smarter, safer, and cleaner through its innovative microprocessors that bring brain-like intelligence to sensors. Supported by prominent European deeptech VCs Matterwave Ventures, MIG Capital, European Innovation Council, and Delft Enterprises, Innatera is committed to making a billion sensors intelligent by 2030.
Innatera’s Spiking Neural Processor family offers ultra-low power, high-performance pattern recognition at the sensor edge, enabling real-time sensor data analysis with minimal power consumption and latency. This technology is essential for pervasive sensing tasks in applications such as audio interfaces, touch-free interfaces, presence detection, activity recognition, and ECG signal processing.
The company’s vision goes beyond technological innovation, focusing on seamlessly integrating electronic devices into daily life. Innatera believes in the power of technology to address challenges related to climate, safety, and accessibility, guided by a strong set of values that prioritize innovation, customer value, growth mindset, care for people, teamwork, and competitiveness.
For more information on Innatera’s innovative technology, visit innatera.com.
