Tech Funding Recap for April 12, 2021

There is no doubt that the tech space is booming. Companies on the cutting edge are keeping up by raising funds and making acquisitions to improve and develop their products on an ongoing basis. Graphcore and Honeywell are two companies that have been upping their game in the past few months. Read on to find out more about their funding efforts and what they are bringing to the table.

Graphcore

When it comes to tech, AI is what drives it all. These intuitive systems are programmed to think like humans and play an integral role in machine learning and problem solving.

Graphcore brings new AI developments to the table with Intelligence Processing Units (IPUs) that are effective in speeding up AI applications. They are most focused on natural networks, deep learning, and machine learning. Their multicore design targets low precision arithmetic or in-memory computing, both of which enhance AI algorithm performance, resulting in improved natural language processing and computer vision, as well as boosts in other domains.

The company is a Bristol, UK-based startup that was founded in 2016. Its first commercial release was a 16-nanometer PCI express card known as C2. The card became available in 2018 and launched on Microsoft Azure in 2019 for the consumer market. It was responsible for breakthroughs in natural learning and machine intelligence.

Earlier this year, the company partnered with Dell to launch Cirrascale IPU Bare Metal Cloud, an IPU managed service from the Cirrascale Cloud provider. It also open sourced its libraries for building and executing apps on IPUs.

Graphcore recently announced that it raised $222 million in a series E funding led by the Ontario Teachers’ Pension Plan Board. The money will be used to support the company’s global expansion and continue to accelerate silicon systems and software development in the future.

Honeywell

Honeywell is another company active in the AI space. It announced that it will acquire Sparta Systems for $1.3 billion. This will allow it to gain control of quality management software (QMS) that will bring improvements to machine learning algorithms and other Ai capabilities. It will make the next phase of their development process possible.

The Honeywell company focuses on the life sciences sector and is making moves to integrate TrackWise digital QMS software from Sparta with internet of things (IoT) platforms. The goal of the project is to augment human decision making AI technology. The resulting algorithms should put a system into motion that analyzes data in real time and executes the processes in a measure of time that is mere milliseconds or even microseconds.

The merging of machine learning and application infused logic represents the next wave of IT. It presents an alternative to processing data through legacy batch mode processes that require data to be transferred to the cloud or a local datacenter. Instead, it allows data to be processed in real time speeding things up considerably.

Once data is processed, it can be shared with other applications. This will enable organizations to manage industrial IoT processes on a larger scale making workflows more manageable.