Total amount raised
$162.9 Million
Latest funding date
02/01/2025
Location
EnCharge AI has successfully raised funds over four rounds, with the latest being a $100 million Series B round. The company is backed by notable investors, including AlleyCorp, Samsung Ventures, and Tiger Global Management.
Keep reading to explore the intricacies of EnCharge AI's fundraising journey and the investors backing this innovative platform.
What Is EnCharge AI?
EnCharge AI is a pioneering company in the field of AI computation and semiconductor technology. Founded by Naveen Verma, the company is based in Santa Clara, California, and employs between 11-50 people. EnCharge AI specializes in designing analog in-memory-computing AI chips and developing AI systems for various applications.
The company operates in multiple industries, including AI Infrastructure, Artificial Intelligence, Embedded Software, Semiconductor, and Software. With a strong focus on efficiency and sustainability, EnCharge AI has shipped over 350 million chips, holds more than 150 patents, and has published over 300 technical papers. Their products are designed for optimized deployment across edge-to-cloud platforms, leveraging existing semiconductor supply chains.
How Much Funding Has EnCharge AI Raised?
- Series A
- Amount Raised: USD 21,700,000
- Date: December 2022
- Lead Investors: Anzu Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and scale their AI computing systems and chips.
- Series A
- Amount Raised: USD 22,600,000
- Date: December 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling their AI technology and expand their market reach.
- Grant
- Amount Raised: USD 18,600,000
- Date: March 2024
- Lead Investors: DARPA
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development in AI technology for defense applications.
- Series B
- Amount Raised: USD 100,000,000
- Date: February 2025
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To commercialize AI accelerator technology and launch their first products in 2025.
Total Amount Raised: USD 162,900,000. Current Valuation: Not publicly disclosed.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies in the internet, software, consumer, and financial technology sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- DARPA
- Details: The Defense Advanced Research Projects Agency (DARPA) is an agency of the United States Department of Defense responsible for the development of emerging technologies for use by the military.
- Investment Focus Areas: Defense, advanced technology, innovation.
- Notable Investments: Not publicly disclosed.
- Anzu Partners
- Details: Anzu Partners is a venture capital and private equity firm that invests in breakthrough industrial and life sciences technologies.
- Investment Focus Areas: Industrial technologies, life sciences, advanced manufacturing.
- Notable Investments: Not publicly disclosed.
- Samsung Ventures
- Details: Samsung Ventures is the venture capital arm of Samsung, focusing on investments in technology startups that can complement Samsung's existing product lines.
- Investment Focus Areas: Technology, semiconductors, consumer electronics.
- Notable Investments: Not publicly disclosed.
- HH-CTBC
- Details: HH-CTBC is a venture capital partnership between Foxconn and CTBC Venture Capital, focusing on strategic investments in technology and electronics.
- Investment Focus Areas: Technology, electronics, semiconductors.
- Notable Investments: Not publicly disclosed.
What's Next for EnCharge AI?
EnCharge AI stands at the cusp of a transformative journey, with opportunities to revolutionize AI processing through their energy-efficient analog in-memory-computing chips. These chips promise to shift AI workloads from centralized data centers to local devices, significantly reducing energy consumption and enhancing performance in sectors like defense, aerospace, and consumer electronics. The company's innovative technology is poised to launch its first products in 2025, marking a significant milestone in AI hardware development.
Given the oversubscribed Series B funding round, future fundraising opportunities appear promising. EnCharge AI is likely to attract further investment to scale its technology and expand its market reach. The company's strategic partnerships with major investors and technology firms will be crucial in navigating the competitive landscape and overcoming technical challenges. As EnCharge AI continues to innovate, it may also face hurdles in market adoption and integration of its new AI processing architectures.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like EnCharge AI and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
