Deep learning startup DeepCube secured $7 million in Series A funding

DeepCube, a Tel-Aviv, based deep learning company, has now secured $7 million in Series A funding round.

DeepCube is backed by Dr. Eli David. It offers a software-based inference accelerator to improve deep learning performance, on existing hardware. The company patented technology is purpose-built for deployment of deep learning model is on data centers and intelligent edge devices.

Yaron Ashkenazi, Founder and Managing Partner, Awz Ventures, said, "Deep learning has accelerated in recent years. However, the ability to deploy and scale deep learning on edge devices, with a light footprint and efficient memory and processing power, is a significant challenge that has hindered adoption. DeepCube is the only company that has been able to demonstrate the necessary paradigm shift to change this. DeepCube’s technology has the power to unlock truly autonomous decision making in semiconductors, data centers, and on edge devices, while improving speed and memory reductions. This is absolutely critical to the future of deep learning, and because of this, we are confident that the company will be a critical driver of the future of AI and deep learning."

Eli Groner, Managing Director, KDT, said, "Enabling deep learning on edge devices will drive innovation across countless sectors, allowing us to realize new, critical capabilities in applications such as autonomous cars, agricultural machines, drones, and even medical diagnostic tools. But none of that will be possible without significant technical advancements at the neural network level. That is why we are so impressed with DeepCube’s approach, and with the company’s unique ability to take the vision and theoretical promise of AI and convert that to reality."

The latest round brings the total investment in DeepCube to $12 million. It was backed by the AWZ Ventures with participation from Nima Capital and Koch Disruptive Technologies.

The company as of now has plans to use the new funds to expand the presence of its patented software-based inference accelerator in some of the new emerging markets.