Ann Arbor, Michigan May 12th, 2021 – MemryX Inc. announced it has raised Series A funding to further develop novel, in-memory chips to enable AI applications in edge devices. The company now plans to scale the commercialization of its patented Memory Processing Unit (MPU) architecture and sample product-level chips to leading OEMs across the automotive, edge-compute, and security sector.

The financing round includes participation from ARM IoT Capital, HarbourVest, M Ventures, eLab Ventures, Motus Ventures, the University of Michigan, and other existing investors. “We strive to be a leader in high performance edge computing solutions,” said Dr. Wei Lu, co-founder and CEO of MemryX, “and we are thrilled to have received such positive feedback from our targeted customers.”

MemryX also announced the addition of Rick Wallace, President and CEO of KLA Corporation and one of the most respected thought leaders in the semiconductor industry, to its Board of Directors.

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