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Startup Recogni raised $102 Million to Design AI Chip

Startup making accelerator chip for developing AI models.

Previously focused on building tools for autonomous vehicles.

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Recogni media announcement

Recogni Inc., an artificial intelligence startup that builds technology to support autonomous vehicles, has raised $102 million in funding after expanding into designing chips for generative AI.

Founded in 2017, Recogni designs chips that help autonomous vehicles detect objects with greater accuracy. recently, investors have retreated somewhat from ventures related to self-driving cars amid high-profile setbacks from leading businesses in the sector. US autonomous vehicle startups raised $1 billion in 2023, down from $11.2 billion two years prior, according to data from PitchBook.

Recogni appears to have sidestepped that funding downturn in part by designing an accelerator chip that can be used not just in autonomous systems but also to support the development of generative AI models — an area attracting feverish interest among investors. But the company is not giving up on autonomous vehicles.

The startup will use the latest funding to manufacture and market the chip, called Scorpio. Popular AI chips currently on the market can be used to support training large language models on vast amounts of data and also running these AI systems

By making an accelerator chip, Recogni is entering a field dominated by Nvidia Corp. Tech giants like Amazon.com Inc. and Alphabet Inc.’s Google are also designing their own AI chips.



Source: Bussines Wire/Recogni
Image: Recogni