EnCharge AI Closes Oversubscribed $100M Series B Funding Round Led by Tiger Global to Produce Transformative AI Accelerator Solutions with Unprecedented Efficiency for Client Computing

EnCharge AI Closes Oversubscribed $100M Series B Funding Round Led by Tiger Global to Produce Transformative AI Accelerator Solutions with Unprecedented Efficiency for Client Computing

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Jillian Smith: jillian.smith@deeptech.agency

EnCharge AI, a startup developing first-of-its-kind analog in-memory-computing AI chips, today announced it has secured over $100 million in Series B funding. This latest oversubscribed round, which brings EnCharge AI's total funding to more than $144 million, will advance the commercialization of its first client computing-focused AI accelerator products in 2025 and progress along EnCharge’s future product roadmap.

Today, the vast majority of AI inference computation is accomplished with massive clusters of energy-intensive chips warehoused in cloud data centers, which is environmentally and economically unsustainable. By leveraging dramatic improvements in compute efficiency to move AI inference from the cloud to local devices, EnCharge is enabling entirely new AI experiences outside of the data center while improving security, latency, and cost.

Led by leading investment firm Tiger Global, the Series B round includes a range of financial and strategic investors that reflect the industry-spanning impact of EnCharge AI’s technology, from consumer electronics, infrastructure, and data centers to defense and aerospace.

In addition to Tiger Global, new financial investors include Maverick Silicon, Capital TEN, SIP Global Partners, Zero Infinity Partners, CTBC VC, Vanderbilt University, Morgan Creek Digital, and others. Previous investors participating in the Series B round include RTX Ventures, Anzu Partners, Scout Ventures, AlleyCorp, ACVC, and S5V.

Notable investors with a focus on semiconductors and consumer electronics participating in the Series B round include Samsung Ventures, the corporate venture capital arm of Samsung, and HH-CTBC, a partnership between Hon Hai Technology Group (Foxconn) and CTBC VC. These investors, together with previous investor VentureTech Alliance, provide EnCharge AI with a wealth of insight into future trends, opportunities, and pain points in the semiconductor and consumer electronics industries.

EnCharge AI’s Series B round also includes notable strategic investors in defense and industrial technology, reflecting the broad applicability of EnCharge’s innovations across industries. In-Q-Tel (IQT), the not-for-profit strategic investor advancing technologies for the U.S. national security community and America’s allies; RTX Ventures, the venture capital arm of RTX, a leading manufacturer of aerospace and defense systems and technology solutions; and Constellation Technology Ventures, the venture capital arm of Constellation, the nation’s largest producer of clean, emissions-free, reliable energy, all participated in the round.

The new funding will allow EnCharge to bring its first AI accelerator solutions to market and in configurations that meet partner needs. EnCharge AI’s noise-resilient analog in-memory compute architecture will dramatically reduce the power requirements of running conventional and generative AI inference workloads. By integrating highly efficient analog processing and memory together, EnCharge’s AI accelerators require up to 20 times less energy to run AI workloads compared to leading AI chips available today across a wide range of use cases. Paired with a full platform of software tools designed to maximize efficiency, performance, and fidelity, EnCharge AI’s technology will dramatically expand AI capabilities within a given power budget, broadening the reach of cutting-edge AI beyond the data center to edge and client environments.

“The efficiency breakthrough of EnCharge AI’s analog in-memory architecture can be transformative for defense and aerospace use cases where size, weight, and power constraints limit how AI is deployed today,” said Dan Ateya, President and Managing Director of RTX Ventures. “Continuing our collaboration with EnCharge AI will help enable AI advancements in environments that were previously inaccessible given the limitations of current processor technology.”

EnCharge’s technology comes at a pivotal moment for the AI industry, which is grappling with the exponentially growing energy demands for AI compute driven by a wave of generative AI applications.

"EnCharge has achieved something revolutionary while having comprehensively derisked their technology through research at Princeton before the company was even launched," said a Managing Director at Samsung Ventures. "Building on multiple generations of chips encompassing seven years of peer-reviewed research, Naveen and his team are ready to commercialize a complete hardware and software solution that can bring advanced AI out of the cloud and onto consumer devices.”

In addition to scaling its initial products, EnCharge AI’s series B round will accelerate progress along an ambitious product roadmap, which includes moving to advanced technology nodes and offering a portfolio of solutions to tackle AI compute from edge devices to data centers.

“When evaluating EnCharge AI, we looked at and beyond their initial product plans and considered how this technology will continue to develop in the future,” said Manish Muthal, Senior Managing Director at Maverick Silicon. “We were excited by the opportunity EnCharge has to rapidly bring products to market while continuing to achieve efficiency gains with their technology, raising the bar of AI compute efficiency to a place that would be difficult for others to reach.”

"Our Series B is a pivotal milestone for the company that signals our readiness to bring our full stack AI solutions to market in 2025,” said Naveen Verma, CEO and co-founder of EnCharge. “We are grateful to the fantastic group of investors who will help us unlock the potential of artificial intelligence for countless industries and applications in a way that is sustainable, cost-effective, and scalable.”

About EnCharge AI

EnCharge AI is the leader in advanced AI compute solutions for deployments from edge-to-cloud. EnCharge's robust and scalable next-generation in-memory computing technology provides orders-of-magnitude higher compute efficiency and density compared to today's best-in-class solutions. The high-performance solutions will enable the immense potential of AI to be accessible at scale, in power, size, and weight constrained applications. EnCharge AI launched in 2022 and is led by veteran technologists with backgrounds in semiconductor design and AI systems. For more information about EnCharge AI, please visit https://enchargeai.com/.