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Advancing Digital Conversations raises $70 million in funding to launch a GenAI chip with multimodal capabilities

ByYasmeeta Oon

Apr 20, 2024 raises $70 million in funding to launch a GenAI chip with multimodal capabilities raises $70 million in funding to launch a GenAI chip with multimodal capabilities

In a significant stride towards enhancing the capabilities of edge computing with artificial intelligence (AI), Silicon Valley-based has announced a groundbreaking extension funding round of $70 million. This move is part of the startup’s ambitious plans to launch its second-generation machine learning (ML) System-on-Chip (SoC) platforms, designed to cater to the burgeoning demand for multimodal generative AI processing.

As we stand on the brink of a technological revolution, the global market for AI-supporting chips is projected to witness a staggering growth, more than doubling its current value to reach $119.4 billion by 2027, as forecasted by Gartner. Amidst this rapid expansion, the race to develop semiconductors specifically designed for AI applications is intensifying. While many industry giants have traditionally focused on cloud-based AI support, a paradigm shift towards AI at the edge—bringing hardware processing closer to data collection points—is gaining momentum.

Named after the Hindi word “seema” which means “boundary,” is uniquely positioned to leverage this trend. The company’s edge AI SoCs aim to serve a broad spectrum of sectors, including industrial manufacturing, retail, aerospace, defense, agriculture, and healthcare. By targeting devices with energy consumption between 5W and 25W, introduced its first ML SoC, integrating software and hardware to empower over 50 companies globally with AI and ML capabilities.

Key Highlights of’s Journey:

  • First-Generation ML SoC: Achieved the highest frames per second per watt (FPS/W) on the MLPerf benchmark, focusing primarily on classic computer vision.
  • Second-Generation ML SoC: Set to launch in Q1 2025, emphasizing multimodal GenAI capabilities with architectural enhancements over its predecessor.

The forthcoming ML SoC represents an evolutionary leap, designed to seamlessly adapt to any framework, network, model, and sensor. It promises compatibility across various modalities, including audio, speech, text, and image, positioning itself as a comprehensive edge platform for computer vision, transformers, and multimodal GenAI applications. Funding Rounds
Funding RoundAmount RaisedDateLeading Investors
Series A$30 MillionMay 2022Amplify Partners, Dell Technologies Capital
Series B Extension$70 MillionAnnounced 4th AprilMaverick Capital, Point72, Jericho’s manufacturing prowess is bolstered by its partnership with Taiwan’s TSMC, utilizing 6nm process technology for its second-generation chipset, which includes Synopsys EV74 embedded vision processors. The startup acknowledges a competitive landscape featuring giants like Nvidia and emerging AI chip startups like Hailo, yet remains confident in its unique value proposition of higher performance, power efficiency, and a software-centric approach.

With the latest funding round, led by Maverick Capital and joined by Point72, Jericho, and existing investors,’s total capital raised to $270 million. This infusion of funds will fuel the company’s growth, including expanding its R&D center in Bengaluru, India, developing a go-to-market team for Indian customers, and scaling customer-facing teams globally.

Andrew Homan, Senior Managing Director at Maverick Capital, expressed enthusiasm about the partnership, highlighting the transformative potential of generative AI in reshaping data center and edge computing architectures.’s blend of top-tier talent, technological innovation, and momentum positions it as a pivotal player in this evolving landscape.

As prepares to usher in its second-generation ML SoC, the startup is not just betting on the future of technology but actively shaping it. With a software-centric architecture that promises flexibility and adaptability, is poised to meet the diverse and growing needs of its customers in the realm of GenAI.

  • Multimodal GenAI Capabilities: The new SoC will support various modalities, enabling comprehensive AI applications on the edge.
  • Software-Centric Architecture: Provides flexibility and nimbleness, allowing for rapid adaptation to technological advancements.
  • Global Expansion Plans: With the new funding, aims to extend its global footprint, emphasizing R&D and customer-facing roles in key markets.
  • Commitment to Innovation: Leveraging partnerships with leading technology providers like TSMC and Arm Holdings to ensure cutting-edge solutions.

In conclusion,’s strategic focus on edge AI, backed by robust funding and a vision for the future, signals a transformative phase in the deployment of artificial intelligence across various sectors. As the company moves forward with its plans to introduce its second-generation ML SoC, the tech world eagerly anticipates the innovations and advancements that will emerge from this bold venture.

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Featured Image courtesy of DALL-E by ChatGPT

Yasmeeta Oon

Just a girl trying to break into the world of journalism, constantly on the hunt for the next big story to share.

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