Flex Logix Secures $55M in Series D Round of Financing

StartUp City | Thursday, April 01, 2021

Flex Logix's inference architecture is quite unique. It's designed for low latency for edge megapixel vision applications.

FREMONT, CA: Flex Logix Technologies, supplier of the fastest and most-efficient AI edge inference accelerator and the leading supplier of eFPGA IP, has declared the close of a $55 million oversubscribed Series D funding round. Mithril Capital Management led the financing with active participation by existing investors Lux Capital, Eclipse Ventures and the Tate Family Trust.

Flex Logix's inference architecture is quite unique. It's designed for low latency for edge megapixel vision applications. It combines a large number of 1-dimensional tensor processors with a reconfigurable, high-bandwidth, non-blocking interconnect that allows each layer of the neural network model to be configured for maximum efficiency, resulting in extremely high performance at a low cost and power. The connections between compute and memory are reengineered in millionths of a second as the model is processed. This architecture is the basis of Flex Logix's InferX™ X1 edge inference accelerator, which is now running YOLOv3 object detection as well as sampling to lead customers.

"We are impressed with the very high inference-throughput/$ architecture that Flex Logix has developed based on unique intellectual property that gives it a sustainable competitive advantage in a very high growth market," stated Ajay Royan, managing general partner and founder of Mithril Capital Management. "This technology advantage positions Flex Logix for rapid growth in edge enterprise inference in applications such as medical, retail, industrial, robotics, and more. It is even more impressive that they have done this with so little capital and at the same time built a cash-flow positive eFPGA business with large growth potential as SoC designers look to incorporate reconfigurability into their communications and data center ICs."

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