Israeli Chip Startup Raises $8 Million In Seed Round

An Israeli computer tech startup has raised $8 million in its seed round, which it says will help advance its computer chip technology to meet the growing workloads in artificial intelligence (AI) tasks and machine learning. 

NeoLogic develops a unique computer chip design called Quasi-CMOS, which reduces by up to one third the number of semiconductors needed in a microprocessor – the circuit that contains the computer’s central functions. 

This means that the company can efficiently develop microprocessors with higher computing power at a lower price. 

“Current microprocessors rely on 40-year-old (CMOS) technology. Chip designers are struggling to meet the current and future computation power and power consumption requirements,” said Dr. Avi Messica, co-founder and CEO of NeoLogic.

“NeoLogic’s technology breaks through the limitations of CMOS, reduces the complexity of digital circuits, and offers a dramatic improvement in the price-performance ratio and chip area. We have filed three patent applications so far.”

The tech is expected to greatly help in developing AI accelerators, computer systems specifically designed to accelerate AI and machine learning applications.

The $8 million seed round was led by Maniv Mobility Ventures, a VC firm based in Tel Aviv and New York, along with the seed funds Tel Aviv-based lool ventures and Amsterdam-based M Ventures. NeoLogic is also backed by the Israel Innovation Authority.

“We believe that NeoLogic has a unique opportunity to bring about a far-reaching change in the way processor manufacturers design the next generations of chips that will be more powerful, more energy efficient, and significantly cheaper,” said Nate Jaret, a general partner at Maniv Mobility. 

Founded in 2021, NeoLogic is headquartered in Netanya, central Israel.