Kalray raises $26 million, anticipating the launch of its third generation of microprocessor that will target two rapidly growing markets: autonomous vehicles and data centers
Noted international technology company, Safran, and Asian investor, Pengpai, join the historical group of investors (ACE Managnement, CEA Investissement, EUREKAP!, Héléa Financière and INOCAP Gestion) in injecting Kalray with this new round of capital.
Kalray, a pioneer in high-performance, low-power manycore microprocessors, has announced the completion of a new round of funding that will total $26 million. For this round, the company has welcomed Safran and the Asian investor, Pengpai, to its list of investors, which already include ACE Management, CEA Investissement, EUREKAP! Héléa Financière and INOCAP Gestion.
Since its spin-off from the CEA in 2008, Kalray developed a massively parallel manycore architecture that is unique to its microprocessors, called the MPPA® (Massively Parallel Processor Array). This technology, protected by over 20 international patents, increases the processors' real-time processing abilities while maintaining very low energy consumption. Kalray's microprocessors are mainly used in two highly-demanding and fast-growing markets – critical embedded applications (aeronautics/defense and autonomous vehicles) and data centers (storage acceleration and high-speed networks). By 2020, the commercial potential of these markets is estimated at $3.25 billion.
A growing international presence, Kalray now counts over 65 employees spread out over its home base in Grenoble (France), and its North American antenna in Los Altos, CA (USA). Since its creation, Kalray has raised over $65 million in capital and public funding, with the notable participation of Bpifrance.
This new round of funding will allow Kalray to accelerate the commercial exploitation of its current solutions and to launch the development of the MPPA® Coolidge, its 3rd generation of microprocessors, which is set to be released in 2018.