Aspinity Raises $5 Million Series B Funding To Bring Breakthrough Ai/Ml Technology To A Global Market

Sep 19, 2023•almost 2 years ago

Amount Raised

$5 Million

Round Type

series b

PittsburghInformation Technology

Investors

UnitrontechRiverfront VenturesMountain State CapitalBirchmere VenturesAnzu Partners

Description

Aspinity, the leader in near-zero power AI solutions, today announced that it has closed $5 million in Series B funding from current investors Anzu Partners, Birchmere Ventures, Mountain State Capital and Riverfront Ventures. Growing Aspinity’s total funding to more than $19 million, the round also includes new strategic investor and partner Unitrontech, a leading distributor of automotive semiconductors and key partner of leading automotive manufacturers.

Company Information

Company

Aspinity, Inc.

Location

2000 Smallman Street, Ste 201

Pittsburgh, Pennsylvania, United States

About

Aspinity is revolutionizing the design of battery-operated, always-on sensing devices. The company's unique analog machine learning processor introduces a completely new, bio-inspired approach to always-on sensing that improves battery life by 10x by eliminating the power-wasting processing of irrelevant data. Headquartered in Pittsburgh, Aspinity delivers the power- and data-efficient solution required for the next generation of portable always-on devices for IoT, smart home, consumer, industrial, and medical applications such as voice/sound wake-up, industrial machine health monitoring, and wearable health monitoring.

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Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers