Institute of Neuroinformatics spin-off aiCTX announces the closing of our pre-A investment from Baidu Ventures (BV). BV has invested USD 1.5M in aiCTX to accelerate the development of commercial applications of neuromorphic computing.
Baidu Ventures (BV) is a global, AI-focused investment fund established in 2017. Currently it manages roughly $500M USD across 3 funds, and has offices in Beijing, San Francisco and Frankfurt. With a deep belief in AI, BV supports entrepreneurs and companies who are using AI to transform the way we live.
Mr Wei Liu (CEO of BV) commented on why he believes that aiCTXare a good investment for BV. “What sets you apart from other neuromorphic startups — and also the huge corporations active in the field — is your unique technology and your product-driven focus. You are developing complete commercial solutions, not simply designing computing fabrics.”
“We are very pleased to have BV with us on the next step of our journey,” said Dr. Ning Qiao (CEO of aiCTX). “BV recognised our years of expertise in combining mixed signal neuromorphic designs with ultra-low power and ultra-low latency asynchronous digital circuits in advanced VLSI processes.”
BV’s investment will help accelerate our development of dedicated neuromorphic chips for specific applications.