Quadric Raises $46 Million in Series C Funding
Quadric, a Burlingame, California-based company known for its flexible AI accelerator IP that powers the next generation of AI chips, has successfully raised $46 million in a Series C funding round. This round was spearheaded by the International Finance Corporation (IFC), marking its first investment in an AI chip company. Other participants in this round included Pear VC, Uncork Capital, BEENEXT, and Offline Ventures.
Company Overview
Quadric is developing a programmable AI chip platform that allows AI models to run directly on devices, supporting a shift towards secure and locally controlled AI infrastructure. The company’s core product, the Chimera GPNPU, is a general-purpose neural processing unit architecture that can scale from 1 to over 3,200 TOPS in multi-chiplet configurations. This technology supports a wide range of AI models, including convolutional models, transformer-based models, on-device LLM inference, and emerging vision-language-action world models.
Leadership and Vision
Veerbhan Kheterpal, Co-founder and CEO of Quadric, leads the company's mission to address the rapid evolution of AI model requirements with its programmable architecture. This capability allows chip designers to deploy and adapt a single platform as AI models evolve.
Strategic Use of Funds
The newly acquired funds will be directed towards enhancing Quadric’s customer support and expanding its go-to-market teams. This expansion is aimed at meeting the growing demand across various sectors, including automotive, AI PCs, and enterprise markets. The company is also preparing to cater to emerging fields such as humanoid robotics, wearables, and networking.
Investment Details
IFC, the private sector arm of the World Bank Group, led this Series C round. Existing investors such as Pear VC, Uncork Capital, and BEENEXT increased their participation, while Offline Ventures joined as a new investor. This collaboration links Quadric with governments and industries seeking to develop AI capabilities independent of hyperscale cloud infrastructure.
Future Outlook
With this substantial investment, Quadric is well-positioned to advance its AI chip platform, addressing the key challenges in AI hardware design. By enabling a flexible and adaptable architecture, Quadric is set to play a significant role in the evolution of AI technologies, catering to the dynamic needs of various industries.
Quadric's continued growth and innovation in the AI chip sector demonstrate its commitment to providing cutting-edge solutions that meet the ever-changing demands of AI model deployment.