How Much Did Edge Impulse Raise? Funding & Key Investors

Edge Impulse has successfully raised funding through multiple rounds, with its most recent Series B round completed on December 9, 2021. The company has attracted a diverse group of investors, including Momenta and Knollwood Investment Advisory.

Now a Qualcomm company, Edge Impulse continues to innovate in the field of edge AI development, offering a platform that supports a wide range of hardware and applications. Keep reading to explore the intricacies of Edge Impulse's fundraising journey and the investors backing this innovative platform.

What Is Edge Impulse?

Edge Impulse, founded on June 1, 2019, in San Jose, California, is a leading platform for developing intelligent devices using embedded machine learning. The company was established by Jan Jongboom and Zach Shelby.

Edge Impulse offers a comprehensive software platform that includes tools for data acquisition, signal processing, machine learning training, model testing, and creating deployable models. These models can run efficiently on various edge devices, from microcontrollers to CPUs and GPUs.

With a team of 101-250 employees, Edge Impulse aims to accelerate the delivery of next-generation products and solutions by providing tools to build datasets, train models, and optimize libraries for different devices.

How Much Funding Has Edge Impulse Raised?

1. Seed Round
   • Amount Raised: $5.4M
   • Date: July 14, 2020
   • Lead Investors: Momenta
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support initial product development and market entry.
2. Series A
   • Amount Raised: $15M
   • Date: May 18, 2021
   • Lead Investors: Canaan Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations, enhance product development, and expand market reach.
3. Series B
   • Amount Raised: $34M
   • Date: December 9, 2021
   • Lead Investors: Coatue
   • Valuation at Round: $234M
   • Motivation Behind the Round: To double the workforce, expand the solution engineering team, and grow the developer ecosystem.

Total Amount Raised: $54.4M. Current Valuation: $234M.

Key Investors

Here are the major investors in Edge Impulse, along with details about each:

• Coatue
  • Details: Coatue is a global technology-focused investment firm. They have a strong presence in the technology sector and are known for their strategic investments in high-growth companies.
  • Investment Focus Areas: Technology, media, telecommunications, healthcare.
  • Notable Investments: Snap Inc., Spotify, ByteDance, DoorDash.
• Canaan Partners
  • Details: Canaan Partners is a venture capital firm that invests in early-stage technology and healthcare companies. They have a long history of successful investments and a diverse portfolio.
  • Investment Focus Areas: Technology, healthcare.
  • Notable Investments: LendingClub, Match.com, Ebates, Prime Medicine.
• Acrew Capital
  • Details: Acrew Capital is a venture capital firm that focuses on early-stage investments. They are known for their hands-on approach and support for their portfolio companies.
  • Investment Focus Areas: Fintech, cybersecurity, enterprise software, consumer technology.
  • Notable Investments: Chime, Exabeam, Pie Insurance, Divvy Homes.
• Fika Ventures
  • Details: Fika Ventures is an early-stage venture capital firm. They focus on investing in innovative companies that have the potential to disrupt their respective industries.
  • Investment Focus Areas: Enterprise software, fintech, marketplaces, digital health.
  • Notable Investments: Pipe, Papaya, Embark Veterinary, Honey.
• Momenta Ventures
  • Details: Momenta Ventures is a venture capital firm that invests in early-stage companies in the digital industry. They are particularly interested in companies that are driving digital transformation.
  • Investment Focus Areas: Industrial IoT, smart manufacturing, digital transformation.
  • Notable Investments: Senseye, RevTwo, Litmus Automation, ClearBlade.

What's Next for Edge Impulse?

Edge Impulse stands at the cusp of significant growth, driven by the burgeoning interest in embedded machine learning and edge computing. With plans to double its workforce and expand its developer ecosystem to 100,000 users, the company is poised to capitalize on the increasing demand for AI and ML solutions across various industries. This expansion presents a substantial opportunity for Edge Impulse to solidify its position as a leader in the field.

Future fundraising opportunities appear promising as the company continues to demonstrate robust growth and market potential. The recent Series B round, which tripled its valuation, indicates strong investor confidence. However, challenges such as scaling the workforce while maintaining company culture and ensuring the platform can handle a growing user base will need to be addressed. As Edge Impulse navigates these hurdles, its ability to innovate and adapt will be crucial for sustained success.

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