The Fractile startup, which is based in the United Kingdom, reported that it managed to raise $15 million in seed funding.
The company intends to spend the mentioned money on the development of a new artificial intelligence chip. Fractile also plans to use part of the investment funds to implement measures aimed at increasing the number of its team. The company also considers the received financing as a kind of material tool for forming partnerships with other firms. The startup sees accelerating the development of its first products as another way to use investments. The relevant information is contained in the Fractile press release.
Dr. Walter Goodwin, chief executive officer and founder of the company, says that the current approach of the firm supercharges inference, providing amazing improvements in terms of speed and cost. According to him, in this case, there is more than just acceleration. He says that changing the point of performance for interference allows the company to explore completely new ways to use leading modern artificial intelligence models to solve the most complex problems in the world.
The press release also notes that the development of Fractile for artificial intelligence chips can run AI models 100 times faster and 10 times cheaper compared to conventional approaches.
With the microcircuits, the company seeks to find a solution to the current situation in which machine intelligence models require high costs during development and at the scaling stage, the performance of advanced technology is inhibited, potential performance is restricted, and the capabilities of the mentioned models to drive differentiation are limited.
As we have reported earlier, AI Video Startup HeyGen Raises $60 Million.
