AI startup looks to accelerate cloud-to-edge strategy

AI startup looks to accelerate cloud-to-edge strategy

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Wave Computing Inc. (Campbell, CA), AI systems builder and the owner of MIPS Technology Inc., has raised $86 million in a Series E round of investment.
By Rich Pell

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This brings the total investment in the company to more than $200 million, Wave said. The round was led by financial planning consultancy Oakmont Corp. (Los Angeles, Calif.) and supported by existing investors, which include Samsung Ventures and Tallwood Ventures.

Wave said the money would be used for growth and to build the company for a commercial “scale-out” plans in 2019.

Wave was founded in 2008 by Peter Foley, an entrepreneur in residence at Tallwood Ventures and Karl Fant who had a long history of research into a form of asynchronous logic called null-convention logic. Since then the company has moved into machine learning systems based on a dataflow architecture silicon.

www.wavecomp.com

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