OAKLAND, Calif., Dec 14 (Reuters) - EnCharge AI, a chip startup born at a Princeton University lab, on Wednesday said it raised $21.7 million as it looks to commercialize its computing technology that is designed to run artificial intelligence applications more efficiently.
Its first products will be cards that can be easily slotted into server racks for companies to run AI applications, said Naveen Verma, CEO and co-founder of EnCharge AI and a professor of electrical and computer engineering at Princeton.
EnCharge AI chips work by computing data directly in the memory on the chip, using a special chip design and software.
The chips will first be used in factories, warehouses and retail spaces to run AI applications, said Verma.
EnCharge AI said the latest funding round was led by Anzu Partners with participation from AlleyCorp, Scout Ventures, Silicon Catalyst Angels, Schams Ventures, E14 Fund and Alumni Ventures.