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Mythic Secures $30M in new financing

Mythic, an AI inference processor company with analog compute-in-memory technology, has secured USD 30 million in Series B-1 funding led by Valor Equity Partners, with additional new investors Future Ventures, Atreides, Micron Ventures, and Lam Research.

Existing investors also participating included SoftBank Ventures Asia, Threshold Ventures (formerly DFJ Venture), Lux Capital, DCVC (Data Collective), AME Cloud Ventures, and Lockheed Martin Ventures, bringing total Series B funding to USD 70 million. As the company accelerates towards market introduction of its inference processors, Mythic today also announced that it has expanded and strengthened its leadership team during the past year with the addition of Ty Garibay as VP of Engineering, Boris Beylin as VP of Software Engineering, and Tim Vehling as SVP of Product and Business Development. Ty, Boris, and Tim bring decades of combined industry experience from companies such as Altera, Intel, TI, ARM, Cadence, Samsung, NVIDIA, Sun Microsystems, Synaptics, Silicon Image, Micronas, and LSI. "This new financing round underscores our belief that Mythic will play a leading role in the explosive deployment of AI products both in the datacenter and at the edge," says Mike Henry, co-founder and CEO of Mythic in a press release, "and we are excited to have Valor Equity Partners lead this round, with Micron and Lam Research joining as strategic investors. With the recent additions of Ty, Boris, and Tim, Mythic is well-positioned with a seasoned leadership team to drive Mythic's product and business expansion forward." Mythic expects to provide its first products to strategic and early access customers during the fourth quarter of 2019.
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December 16 2019 2:19 pm V14.8.8-2