SACRAMENTO, Calif., Dec. 11, 2024 /PRNewswire/ — Azimuth AI Inc. a startup specializing in producing extremely personalized silicon merchandise for edge and embedded computing markets has closed a $11.5M enterprise spherical. Based in 2022, Azimuth AI is concentrated on creating purpose-built SoCs (System-on-chip) merchandise for, sensible metropolis, 2/3-wheeler autos, and different edge computing functions. The Workforce at Azimuth has designed and delivered 30+ silicon merchandise to market working at main semiconductor corporations within the Silicon Valley and India. At present Azimuth AI has workplaces in Sacramento, USA and Hyderabad, India.
The enterprise spherical was led by Cyient, a world Clever Engineering providers firm headquartered in Hyderabad, India. The corporate had announced previously that the strategic funding to amass a stake in Azimuth AI, marks a big milestone in its efforts to increase its capabilities and drive innovation throughout the semiconductor business.
Cyient Government Vice-Chairman & Managing Director Krishna Bodanapu stated the acquisition will improve the corporate’s capabilities within the vital semiconductors house whereas reinforcing its dedication to next-gen energy and vitality options.
Ramya Mohan, Chief Technique Officer at Cyient commented that the worldwide semiconductor business is a $600 billion business, and it’s anticipated to develop to greater than $1 trillion by 2030. Whereas the general-purpose chip market exists, the Software-Particular Built-in Circuit (ASIC) market is rising thrice sooner. This development is pushed by corporations looking for differentiation on the chip stage which is the main focus at Azimuth AI.
Moneta Ventures, a Sacramento based mostly enterprise capital agency co-led the spherical that was additionally joined by one other native Sacramento agency Growth Factory. Ashu Bhalla, Accomplice at Moneta Ventures, remarked, “We’re captivated with investing in revolutionary corporations that sort out complicated challenges with transformative options. Azimuth’s experience in creating SoCs tailor-made to particular market segments, coupled with their means to ship important price benefits to prospects, is really excellent. Their distinctive strengths in product innovation, expertise, and buyer acquisition have been key drivers behind our choice to again their staff.”
Azimuth’s seed spherical investor AUM ventures, a enterprise capital agency based mostly within the Abu Dhabi International Market (ADGM) additionally re-invested on this spherical. Chetan Mehta, Founding Accomplice at AUM Ventures expressed that, “We’re thrilled to double down on our funding in Azimuth. Over the previous 12 months, the staff has come along with many years of experience in constructing silicon merchandise. With the semiconductor business poised for speedy development over the following decade, customized silicon chips are redefining innovation by delivering specialised options to satisfy the evolving wants of various markets and functions.”
Sri Badiga and Praveen Yasarapu, Co-founders at Azimuth AI stated, “We’re thrilled to welcome Krishna Bodanapu, Ramya Mohan, and Ashu Bhalla to affix our Board of Administrators. Steerage and partnership from such famend business leaders will present invaluable views to our strategic decision-making. From shaping the way forward for rising applied sciences to navigating complicated international markets, these senior leaders have constantly demonstrated the imaginative and prescient and execution wanted to realize extraordinary outcomes.”
The startup will use the recent capital for productizing its first-generation SoC for a number one international Authentic Tools Producer (OEM). The funds may even be used to develop the staff and partnerships to develop a roadmap of cutting-edge SoCs that not solely champion environmental sustainability but additionally facilitate reasonably priced entry to computing options in cost-challenged markets.
Azimuth AI was represented by Fort Placement LLC as its funding banker for this spherical.
SOURCE Azimuth AI Inc.
