"MASSIVE BREAKTHROUGH: THE CHIP REVOLUTION BEGINS WITH $8 MILLION INVESTMENT IN ISRAELI STARTUP!"
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NeoLogic, an Israeli computer tech startup, has successfully raised $8 million in a seed funding round. The startup is focused on developing advanced computer chip technology to cater to the increasing workloads in artificial intelligence (AI) and machine learning sectors. Their distinct computer chip design, termed as Quasi-CMOS, can decrease the number of semiconductors required in a microprocessor by one third, potentially improving efficiency and reducing costs.
The company's CEO, Dr. Avi Messica, points out that current microprocessors, which rely on four-decade old CMOS technology, are struggling to meet computational power and energy efficiency requirements. NeoLogic aims to overcome these limitations, and claims to have already filed three patent applications related to its technology.
The funds raised are expected to aid in the development of AI accelerators, computer systems engineered to speed up AI and machine learning applications. The seed round was led by Maniv Mobility Ventures, along with lool ventures and M Ventures. Additionally, NeoLogic has support from the Israel Innovation Authority.
Maniv Mobility’s general partner, Nate Jaret, sees a unique opportunity for NeoLogic to revolutionize the way future processor chips are designed, in terms of power, energy efficiency, and cost. NeoLogic, established in 2021, has its headquarters in Netanya, central Israel.
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