March 28, 2025:
Edge AI Chip Maker MemryX Secures $44M - MemryX Inc. has raised $44 million in a Series B funding round to enhance its edge AI semiconductor capabilities. Known for its MX3 chip, which significantly reduces power usage while excelling in AI-driven tasks, the company plans to boost production and develop the next-gen MX4 accelerator.
The MX3 chip offers up to 6 TFLOPs performance at minimal power, with its M.2 module variant achieving 24 TFLOPs. As demand for edge AI rises, especially with 5G engagement, MemryX positions itself to capitalize on market growth projections reaching $66.5 billion by 2030.
