Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Esperanto Technologies secures $58 million in Series B investment for AI chips

Artificial Intelligence (AI) computing solutions Esperanto Technologies has secured $58 million (roughly £44,6 million) in Series B investment for the development of AI chips, the company announced on Sunday.

The funding will bring the total investment in the company to $63 million and will allow Esperanto to develop further their first generation 7nm solutions which will include more than a thousand energy efficient ET-Minion™ RISC-V cores on a single 7nm chip.

“Next-generation applications in machine learning, AI, and real-time analytics require the highest levels of performance and optimisation for these advanced workloads,” commented Martin Fink, CTO of Western Digital. “The RISC-V platform, and Esperanto solutions, free developers to innovate and optimise for special-purpose computing.”

Esperanto’s goal is to deliver the most energy-efficient, high-performance computing solutions for AI and machine learning (ML) applications working with open standards such as RISC-V Instruction Set Architecture (ISA), the Open Compute Platform (OCP), Pytorch ML framework, Glow ML compiler, and the Open Neural Network Exchange (ONNX).

Commenting on the funding, Esperanto president and CEO Dave Ditzel said: “Despite still operating largely in stealth mode, we appreciate this strong show of support from strategic and VC investors who had confidential briefings about our plans and believe we have a compelling solution for accelerating ML applications.

“Esperanto has assembled one of the most experienced VLSI product engineering teams in the ML industry, and we believe that will be a differentiating factor as we drive toward our 7nm products.”

Ditzel founded Esperanto in 2014 together with professor David Patterson, recent recipient of the Turing Award – the Nobel Prize of computing. He previously founded and was CEO of Transmeta, was vice president and chief architect for Intel‘s Hybrid Parallel Computing and was Sun Microsystems CTO for their SPARC Technology Business.

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