Marquee investor joins NeuReality Series A

Samsung Ventures joins NeuReality investment round

Lenovo taps startup to create AI architecture for cloud data centers

Samsung Ventures joins blue-chip investors in NeuReality's $20M Series A led by Cardumen Capital and Varana Capital
Lenovo to collaborate on new AI-centric servers for cloud data centers and near-edge facilities, allowing customers to scale AI usage, significantly cutting costs, lowering energy consumption and shrinking data center footprint
Huge, growing market of cloud/data centers, near edge, and edge device chipsets projected to reach $75B by 2025
Forecasting initial revenue of $2.5M in 2022, increasing to $30M in 2024
Partnerships with IBM, Xilinx, a leading OEM and a large semiconductor corporation

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Dear Josb,

Artificial intelligence technology is disrupting almost every industry from agriculture to retail to transportation, but deployment is held back by hardware costs and software complexity.

NeuReality, an early-stage Israeli startup, is attracting blue-chip investors and marquee customers. The company aims to disrupt the current approach to deploying AI with a new system architecture that can reduce the cost and energy consumption of AI systems by an order of magnitude. OurCrowd is reinvesting in NeuReality. The details in this email are based on information received from, and verified solely by, the company.

Since we first launched this investment opportunity earlier this month, the company has announced two significant developments:

Samsung Ventures Joins Round: Samsung Ventures, the investment arm of the technology giant, has joined this Series A round, validating the company's vision and technology, and adding to the company's strong team of blue-chip investors led by Cardumen Capital and Varana Capital.

Lenovo Signs Partnership: Tech giant Lenovo has entered an agreement to build new types of AI-centric inference servers and modules that will serve public and private cloud data centers, and on-premise near-edge facilities.

The Problem
AI deployment, known as the inference stage, has unique data-processing requirements. The industry has invested heavily in developing new and better AI chips including deep learning accelerators (DLAs), but they operate in architectures that are heavily dependent on CPU and networking chips.

A system board with $4,000 worth of AI chips needs $12,000 worth of computation/networking chips to support them, and the CPU is often the bottleneck, limiting the output of the AI-specialized chips.

The Solution
NeuReality's technology is based on completely new AI-centric system architecture designed to be optimized for AI processing, replacing the traditional CPU-centric support system.

NeuReality plans on reducing this $12,000 price tag to $1,400, and providing better support to the AI chips, yielding improved performance. In addition to the hardware cost savings, the overall system will have greatly reduced energy consumption and a reduced data center footprint, generating further savings.

NeuReality also addresses the software complexity barrier with a software development kit that will make it much easier for data scientists and DevOps engineers to deploy AI.

The Market
The market for AI chipsets is large and growing. Omdia estimates that by 2025 the total addressable market will reach $75B, with applications in cloud/data centers, near edge, and edge applications.

Traction
NeuReality has partnership agreements with Lenovo, IBM Cloud, Xilinx and others including leading OEM and large semiconductor corporation. The company forecasts initial sales of $2.5M in 2022 based on its prototype released in 2021, growing to $30M in 2024.

The Round
This $20M Series A round is led by Cardumen Capital and Varana Capital with participation from Samsung Ventures. Funds from this round will be used for R&D and staffing, including all the design and preparation activities for its NR1 product.

Meet the CEO
We hosted a conference call with CEO Moshe Tanach. Click HERE to watch and learn more about NeuReality.

Certain information in this email contains "forward-looking information" under applicable securities laws ("forward-looking statements"). These may include, among others, projected performance; expected development of the company's business, projects and partnerships; execution of the company's vision and growth strategy; and the like. Forward-looking statements are not guarantees of future performance and should not be relied on in any way.

Nothing contained in and accompanying this communication shall be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security by OurCrowd, its portfolio companies or any third party. Information regarding OurCrowd's limited partnerships and/or portfolio companies and the investment opportunities on OurCrowd's website is intended and available for accredited investors only (criteria at OurCrowd). OurCrowd urges potential investors to consult with licensed legal professionals and investment advisors for any legal, tax, insurance, or investment advice.OurCrowd operates in Canada through OurCrowd Canada Inc., an exempt market dealer registered in the Provinces of British Columbia, Alberta, Manitoba, Ontario, Quebec and Nova Scotia.