Tachyum Triples Company Valuation at End of Series B Funding Cycle

LAS VEGAS, July 20, 2021 – Tachyum today announced that it has closed its Series B round, led by private equity investor IPM Group in cooperation with Slovak wealth manager, Across Private Investments. The latest funds raised during the round will be used to finalize Prodigy as it moves from successfully demonstrating a prototype FPGA to registering and then manufacturing the world’s first universal processor chip. Tens of millions of dollars are raised in Series B.

The IPM Group is a global asset and wealth management company and IPM isdreams as a key strategic partner of Tachyum, in particular to advance a supercomputer project based in Slovakia as well as the global positioning of the European Union as a leading technology hub.

Close collaboration between IPM and Tachyum has enabled advancements in the data center market with InoCloud – an IPM company that aims to acquire and build high performance, energy efficient data centers where Prodigy will be deployed. An HPC cluster using Prodigy is being deployed across the EU as part of the NSCC Slovakia supercomputer project with a baseline design expected in the first half of 2022 before becoming fully operational later in the year.

“We are delighted to strengthen our position as a lead investor in the Series B cycle of Tachyum and to support Tachyum in its further development on the path to production. With the ever increasing demand for cloud computing and the associated environmental concerns, Tachyum’s vision to provide a revolutionary solution for sustainable digitization is more than ever needed, ”said Adrian Vycital, Managing Partner of IPM Group and Board Member of administration of Tachyum.

Tachyum’s technological leadership and the recruitment of top talent both globally and in Slovakia have made it one of the most capital efficient companies. Tachyum has successfully developed a proprietary instruction set architecture (ISA) and processor architecture that its closest competitors cannot achieve, despite spending much more. Tachyum increased its valuation by 3x in USD.

Tachyum is planning a Series C funding round to provide the capital needed to achieve profitability.

Prodigy has the potential to create unmatched compute speed and vast power saving capabilities for the hyperscale, OEM, telecommunications, private cloud and government markets. Prodigy’s 10 times lower CPU core power consumption will significantly reduce the carbon emissions associated with data center use. Prodigy’s 3X lower cost (at equivalent performance) will also translate into billions of dollars in annual savings for hyperscalers like Google, Facebook, Amazon, and Alibaba.

Tachyum’s Prodigy processor can run HPC applications, convolutional AI, explainable AI, general AI, bio AI, and spiked neural networks, as well as normal data center workloads, on a single platform – homogeneous processor shape, using existing standard programming models. Without Prodigy, hyperscale data centers must use a mix of disparate CPU, GPU, and TPU hardware, for these different workloads, creating inefficiency, expense, and complexity of separate provisioning and maintenance infrastructures. Using specific hardware dedicated to each type of workload (eg, data center, AI, HPC) results in underutilization of hardware resources and more difficult programming, support, and maintenance. Prodigy’s ability to seamlessly switch between these different workloads dramatically changes the competitive landscape and the economics of data centers.

“Funding an advanced stage company like Tachyum is a vote of confidence that all of the work and progress we have made to date will continue to deliver exponential value to investors in the future,” said Dr Radoslav Danilak, founder and CEO of Tachyum. “IPM has been a strong ally and a key partner. We are excited to share a vision of how data centers can be transformed into universal data centers and look forward to continuing our work to enable human brain scale AI and move the world forward into an era. greener computing.

About Tachyum

Tachyum is disrupting the data center, HPC and AI markets by delivering the world’s first universal processor, with industry-leading performance, cost and power, across all three compute domains, while enabling data centers to data to exceed the capacity of the human brain. Tachyum, co-founded by Dr Radoslav Danilak, and its flagship Prodigy, begin high-throughput production in 2021, with software emulations and an FPGA-based emulator available to early adopters. He is targeting a $ 50 billion market, growing at 20% per year. With data centers currently consuming more than 3% of the planet’s electricity, and expected to reach 10% by 2025, the Ultra Low Power Prodigy Universal Processor is essential if we are to continue to double global center capacity. data every four years. Tachyum is one of the founding members of I4DI (Innovations for Digital Infrastructure), which will build the world’s fastest AI supercomputer in Slovakia, starring Prodigy. Tachyum has offices in USA and Slovakia, EU. For more information, visit https://www.tachyum.com/.

Source: Tachyum

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