Flex Logix Technologies Inc, a California-based supplier of an AI edge inference accelerator and supplier of the eFPGA IP, has now secured a $55 million in Series D funding round.
Flex Logix Technologies is founded by Geoff Tate. It is a reconfigurable computing company offering AI inference and eFPGA solutions based on systems, software, and silicon.
Flex Logix’s eFPGA platform enables the chips to flexibly handle changing protocols, algorithms, standards, and customer needs to implement reconfigurable accelerators that speed key workloads with 30-100x compared to processors.
“We are impressed with the very high inference-throughput/$ architecture that Flex Logix has developed based on unique intellectual property that gives it a sustainable competitive advantage in a very high growth market,” said 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.”
“Flex Logix’s CEO Geoff Tate has a proven track record of success and capital stewardship — from managing AMD’s Microprocessor and Logic group with over 500 people to leading his first start up, Rambus, from four people and $2 million in equity to a NASDAQ IPO and multi-billion dollar market cap,” said Peter Hebert, Co-Founder and Managing Partner of Lux Capital. “We all have confidence Geoff can do it again, building Flex Logix into an industry-defining, stand-alone public company.”
Flex Logix Technologies latest funding
The round was backed by the Mithril Capital Management with participation from existing investors Eclipse Ventures, Lux Capital, and Tate Family Trust.
The company as of now has plans to use the new funds to continue to expand operations and its business outreach.