Total amount raised
$54.4 Million
Latest funding date
12/01/2021
Location
Edge Impulse has successfully raised funding over four rounds, with the latest being a Series B led by Coatue. The company has attracted a total of seven investors, including Momenta and Knollwood Investment Advisory.
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 is a pioneering platform in the field of edge AI and machine learning, dedicated to developing intelligent devices using embedded machine learning. The company operates out of San Jose, California, and has a workforce of 101-250 employees.
Founded with the mission to simplify the development process for embedded machine learning, Edge Impulse has been acquired by Qualcomm. The platform supports a wide range of devices, from microcontrollers to gateways with neural accelerators, making it accessible to developers of all skill levels.
How Much Funding Has Edge Impulse Raised?
- Seed Round
- Amount Raised: USD 5,400,000
- Date: July 2020
- Lead Investors: Momenta
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and begin early-stage development.
- Series A
- Amount Raised: USD 15,000,000
- Date: May 2021
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business, develop the product further, and expand the team.
- Series B
- Amount Raised: USD 34,000,000
- Date: December 2021
- Lead Investors: Coatue
- Valuation at Round: USD 234,000,000
- Motivation Behind the Round: To double the workforce, expand the solution engineering team, and grow the developer ecosystem.
Total Amount Raised: USD 54,400,000. Current Valuation: USD 234,000,000.
Key Investors
- Coatue
- Details: Coatue is a global investment firm known for its focus on technology, media, and telecommunications sectors. David Cahn from Coatue has joined the Edge Impulse board following their investment.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: ByteDance, DoorDash, Snap Inc.
- Canaan Partners
- Details: Canaan Partners is a venture capital firm that invests in early-stage technology and healthcare companies. They have been a significant backer of Edge Impulse since the Series A round.
- Investment Focus Areas: Technology, healthcare
- Notable Investments: LendingClub, Match.com, Ebates
- Momenta
- Details: Momenta is a venture capital firm specializing in digital industry investments. Michael Dolbec is a notable partner associated with Momenta.
- Investment Focus Areas: Industrial IoT, smart manufacturing, digital transformation
- Notable Investments: ThingWorx, Xage Security, RevTwo
- Acrew Capital
- Details: Acrew Capital is a venture capital firm that invests in early-stage technology companies. They participated in the Series B funding round for Edge Impulse.
- Investment Focus Areas: Technology
- Notable Investments: Chime, Exabeam, Pie Insurance
- Fika Ventures
- Details: Fika Ventures is a venture capital firm focusing on early-stage enterprise and consumer technology companies. They are an existing investor in Edge Impulse.
- Investment Focus Areas: Enterprise technology, consumer technology
- Notable Investments: Embark Trucks, Papaya, Pipe
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 ML applications in various sectors, including industrial, logistics, and healthcare.
Future fundraising opportunities appear promising, given the strong investor interest demonstrated in the recent Series B round. As the company continues to grow, it may attract further investments to enhance its platform capabilities and expand its market reach. However, challenges such as scaling the workforce, maintaining company culture, and staying ahead of competitors in the rapidly evolving ML landscape will need to be navigated carefully.
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