Ann Arbor, Michigan May 12th, 2021 – MemryX Inc. announced it has raised Series A funding to further develop novel, in-memory chips to enable AI applications in edge devices. The company now plans to scale the commercialization of its patented Memory Processing Unit (MPU) architecture and sample product-level chips to leading OEMs across the automotive, edge-compute, and security sector.

The financing round includes participation from ARM IoT Capital, HarbourVest, M Ventures, eLab Ventures, Motus Ventures, the University of Michigan, and other existing investors. “We strive to be a leader in high performance edge computing solutions,” said Dr. Wei Lu, co-founder and CEO of MemryX, “and we are thrilled to have received such positive feedback from our targeted customers.”

MemryX also announced the addition of Rick Wallace, President and CEO of KLA Corporation and one of the most respected thought leaders in the semiconductor industry, to its Board of Directors.

“I am quite excited to be working with MemryX and their exceptional computing architecture, which I believe will give them a significant competitive edge in the AI hardware market,” stated Rick Wallace.

Another key member of the MemryX team is Dr. Peter Hsieh, ARM’s VP of Innovation & Investment. Dr. Hsieh, co-inventor of the world’s first single chip CMOS RISC microprocessor, is a newly-appointed member of the company’s Technical Advisory Board.

MemryX uses a radically new in-memory compute architecture with deterministic data flow to enable low-power edge compute performance to enable high value AI applications. The company demoed its first MPU to select customers at CES 2020, and is currently sampling its second MPU to leading OEMs.

MemryX Inc. has offices in both Ann Arbor, Michigan and Taipei, Taiwan.

“By marrying the technology innovation developed in the United States with the world-renowned semiconductor expertise of Taiwan, MemryX has positioned itself to revolutionize the edge AI semiconductor industry” said Benny T. Hu, Founding Partner of ARM IoT Capital.

To learn more visit www.memryx.com.

About MemryX Inc.

MemryX Inc. is a fabless semiconductor company that designs edge processing solutions powered by a proprietary compute-in-memory technology and data-flow architecture. Backed by leading investors including HarbourVest, ARM IoT Fund, eLab Ventures, M Ventures, and Motus Ventures, MemryX has relationships with many of the world’s largest electronics and automotive OEMs.

The company was co-founded in 2019 by Dr. Wei Lu and Dr. Zhengya Zhang, both professors of Electrical Engineering and Computer Science at the University of Michigan. Lu, co-founder of Crossbar, Inc., brings expertise in neuromorphic computing and in-memory computing systems. Zhang brings expertise in VLSI circuits and systems for computing, communications and signal processing.

MemryX is based in Ann Arbor, Michigan, with branches in Taipei, Taiwan.