Analog AI processor company Mythic AI raised $13M in new funding to stay afloat.
The Texas AI chip startup ran out of capital last fall, leaving its future uncertain.
On Thursday, Mythic announced the $13M financing round, which included existing investors Atreides Management, DCVC, and Lux Capital, as well as new investors Catapult Ventures and Hermann Hauser Investment.
- The investment will enable the startup to bring its next product to market, a next-generation M2000 series processor.
- The M2000 series "builds on the legacy" of its previous M1076 Analog Matrix Processor, a single-chip analog computation device for very low-power AI processing.
- The company noted that the M1076 has already started shipping to Lockheed Martin and other customers.
- In 2021, it raised a $70M Series C funding round to develop its software and hardware offerings and mass-produce its M1108 AI inferencing processor geared for edge AI deployments.
