UK startup Fractile has emerged from stealth, securing $15 million in seed funding to develop a new AI chip. The investment will be used to expand the team, establish partnerships, and accelerate product development.
Dr. Walter Goodwin, CEO and founder of Fractile, highlighted the chip’s ability to run AI models 100 times faster and 10 times cheaper than conventional methods. This advancement aims to reduce the cost and improve the performance of AI models, opening new opportunities for their application.
The seed round was co-led by Kindred Capital, NATO Innovation Fund, and Oxford Science Enterprises, bringing Fractile’s total funding to $17.5 million. This investment positions Fractile in the competitive AI chip market, where companies like Nvidia, Microsoft, Meta, and Google are also innovating to enhance AI efficiency and reduce costs.
