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Recogni, Inc., a pioneer in AI-based computing, has successfully secured $102 million in Series C funding, co-led by Celesta Capital and GreatPoint Ventures. This significant investment round also saw contributions from existing stakeholders such as Mayfield, DNS Capital, BMW i Ventures, and SW Mobility Fund, alongside new entrants Pledge Ventures and Tasaru Mobility Investments, backed by the Public Investment Fund (PIF), with HSBC Innovation Banking providing debt support. The infusion of funds is earmarked for the development of cutting-edge AI inference solutions, aimed at enhancing performance, power efficiency, and offering the lowest total cost of ownership.
The demand for AI technology is surging, with applications spanning across diverse markets. However, the challenge lies in developing AI inference systems that are both performant and power-efficient, especially as model sizes grow. Recogni’s solution focuses on scalable, power-efficient AI inference acceleration, which is critical for the sustainable expansion of AI into areas such as generative AI and intelligent autonomy.
Marc Bolitho, CEO of Recogni, emphasized the disparity between the rapid growth of AI models and the slower pace of computing advancements. “The critical need for solutions that directly address the key challenges in AI inference processing—compute capability, scalability, accuracy, and energy savings—is more urgent than ever,” Bolitho stated. Recogni aims to lead the transformation in data centers, enterprise, and industries like automotive and aerospace through its innovations.
Current AI acceleration technologies are struggling to keep up with the evolving demands of AI applications. The reliance on power-intensive GPUs in cloud-based AI training and inference is pushing the limits of data centers’ compute capacity, cooling, and power systems, making the process both financially and ecologically unsustainable. Recogni proposes a fundamental shift in inference processing to address these challenges with a focus on scalability and sustainability.
Ashok Krishnamurthi of GreatPoint Ventures highlighted the investment rationale, citing Recogni’s ability to achieve 10x higher compute density and lower power consumption, as a major factor for their support. Sriram Viswanathan of Celesta Capital also praised Recogni’s technology for its power performance in meeting the extensive compute needs of AI workloads, emphasizing the market’s demand for such innovative solutions.
In December 2022, Recogni launched Recogni Scorpio, its premier low power AI compute product, showcasing a 1000 TFLOPS class inference solution that underscores the company’s vision and capabilities in advancing AI compute technology.
About Recogni
Recogni specializes in developing AI-based inference processing solutions geared towards Generative AI and intelligent autonomy, focusing on high compute, low power, and scalability. Founded in 2019, Recogni has headquarters in San Jose, California, and Munich, Germany, with key investors including GreatPoint Ventures, Celesta Capital, and others. Visit www.recogni.com for more information.
About Celesta Capital and GreatPoint Ventures
Celesta Capital, a global deep tech venture firm, and GreatPoint Ventures, known for its focus on solving significant problems across various sectors, both bring a wealth of investment and operational experience to the table. Celesta, with a portfolio of over 100 early-stage tech investments, and GreatPoint Ventures, with a mission rooted in entrepreneurial success, underscore their commitment to innovation and scaling global businesses.
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