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Nervana Systems totals $24.4 Million with a latest Series A funding of $20.5 million
SI Team
Thursday, July 2, 2015
funding Based in San Diego, CA, Nervana Systems, raised a $20.5 million Series A funding led by Data Collective, Allen & Co., AME Cloud Ventures, Andy Rubin's Global Playground, the CME Group, Draper Fisher Jurvetson, Fuel Capital, Lux Capital, and Omidyar Network. Nervana builds artificial intelligence systems that companies can use to make their applications smarter. Deep learning, a type of Artificial Intelligence involves feeding lots of data to artificial neural networks and then throwing new data at them to receive inferences in response. Initially set out to sell hardware tailored for deep learning, the firm now intends to perform deep learning on its custom hardware as an easily accessible cloud service.

Founded by experts in machine learning, neuroscience, processor architecture, and chip design, Nervana Systems is bringing unprecedented scale and simplicity to the application of brain-inspired algorithms. At Nervana, next generation of machines are built to tackle challenges in data analysis and computation. Using deep learning as a computational paradigm, the firm is optimizing from hardware to software to develop intelligent solutions for real-world problems. Developed by the technique decades ago by researches, thanks to improvements in computing power and the availability of large sets of data, the technique has become popular for processing images, videos, text, and speech. To date Nervana headed by Naveen Rao, Founder & CEO has raised $24.4 million, including the $3.3 million round announced last August and the startup's $600,000 seed round.

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