A quote that has tumbled in my mind for the better part of my time at Mythic is “the easy road takes you to a crowded place.” Our vision at Mythic has been remarkably consistent: that AI is going to revolutionize every industry, that AI hardware is shaping up to be a massive sector of the semiconductor industry, and that truly disruptive non-digital compute solutions will needed to meet the rapidly increasing compute demands of powerful AI . All of these points were true in the early days, are true now, and will be true for decades to come.
We set on the road of pioneering analog compute to deliver huge performance gains and solve the cost and power challenges. Throughout the years, we heard over and over that this would be impossible. Analog was finicky. Outdated. Power hungry. True to course for choosing the pioneering road over the easy road, there were many setbacks, impossible looking challenges, and the need to build a team that is more cross-functional than has ever been seen in the semiconductor industry. We eventually solved the major challenges on how to design, manufacture, and sell analog compute. We conclusively proved that the benefits of compute in the analog domain inside of flash memory are enormous: algorithms that normally require a large power-hungry GPU can be run on a tiny, low-power, cost-effective chip that can go in any device. We now are moving on to the next phase of our journey, and to do so we are bringing some fantastic new partners on board.
Today, I’m proud to announce that Mythic has raised $70 million in Series C funding – the culmination of all our team’s hard work. The investment is led by BlackRock and co-led by Hewlett Packard Enterprise (HPE). A top-tier financial investor of the caliber of BlackRock and a strategic partner and customer of the scale of HPE truly validates our groundbreaking technology approach and our go-to-market strategy to drive the mass adoption of AI in edge devices.
I’m also excited about the additional participation in our Series C from Alumni Ventures Group and UDC Ventures, among others. To date, we have raised $165.2 million towards our efforts to make it easier and more cost-effective to deploy powerful AI for the smart home, AR/VR, drone, video surveillance, smart city, and manufacturing markets.
So what’s next for Mythic? This new funding will accelerate our plans to mass produce our AI inference solutions to take advantage of the rapidly growing demand for a solution that solves the challenges at the edge. We will also continue to invest strongly in our technology roadmap to stay ahead of the curve as we make our hardware and software solutions even better. With the new funding we will also increase support for Mythic’s growing customer base. We are proud to have customers across APAC, Europe and the U.S., and will focus on further growing our footprint across different regions and verticals.
Mythic will continue to move full steam ahead to help companies unlock the limitations of AI and cost-effectively deploy AI at an unprecedented scale. If that sounds like something you might want to be a part of, check out our careers page to learn more about joining our world-class team.
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