GOTHENBURG, Sweden, May 23, 2024
/PRNewswire/ -- ZeroPoint Technologies AB today closed a
EUR 5.0 million Series A, led by
European Deep Tech fund Matterwave Ventures. Additionally, Nordic
Deep Tech fund Industrifonden served as the local lead for this
round. Other existing investors participating include Climentum
Capital and Chalmers Ventures. The new capital will be used to
scale sales of existing products, bring additional
hardware-accelerated memory products to market, and grow the
company's existing teams in Sweden
and the United States.
"ZeroPoint Technologies' customers include some of the biggest
semiconductor companies in the world and our products are in demand
by data center operators looking to overcome the mounting challenge
of memory bottlenecks," said Klas
Moreau, CEO of ZeroPoint Technologies. "In fact, leading
hyperscalers, such as Meta and Google, are now specifically calling
for hardware-based compression technologies related to
CXL-connected memory."
"We are thrilled to back ZeroPoint Technologies and its
world-class team on their mission. Their sophisticated memory
compression and compaction technology has immense potential to
improve performance and resource efficiency across many categories
of devices. We have been impressed by the ZeroPoint team's ability
to engage with industry leaders and are excited to support their
further growth and impact," said Silviu
Apostu, principal at Matterwave Ventures."
"Industrifonden has proudly supported ZeroPoint Technologies
over the last three years and we are pleased to continue that
support as they accelerate through commercialization," said
Tobias Elmquist, senior investment
director at Industrifonden. "With market trends such as the rapid
expansion of AI, we believe that the memory bottleneck issue is
more urgent today than when we made our initial investment in
ZeroPoint."
Typically, up to 70% of data stored is redundant. ZeroPoint's
products dramatically reduce that waste, which frees up memory
capacity and increases bandwidth. This is accomplished by the
company's first of its kind hardware-accelerated compression and
compaction solution. It combines lossless ultra-fast data
compression with real-time data compaction and transparent memory
management.
Given the exponentially increasing memory demands of today's
applications, partially driven by the explosive growth of
generative AI, ZeroPoint addresses the critical need of today's
hyperscale and enterprise data center operators to get the most
performance and capacity possible from increasingly expensive
memory. ZeroPoint's solutions are proven to increase memory
capacity by 2-4x while also delivering up to 50% more performance
per watt. In combination, these two effects can reduce the total
cost of ownership of data center servers by up to 25%.
ZeroPoint's technology is 1,000x faster than other compression
technologies on the market, which allows ZeroPoint to compress data
across the entire memory hierarchy - all the way from Cache to
Storage. ZeroPoint's technology is agnostic to data load, processor
type, architectures, memory technologies and processing node, and
the company's IP has already been proven on a TSMC 5nm node.
About ZeroPoint Technologies AB
ZeroPoint Technologies is a spinout from Chalmers University of
Technology in Gothenburg, Sweden,
and has over the years developed an impressive IP Portfolio in the
memory compression domain. Their patented compression technology is
based on 15 years of research. The company was founded by Professor
Per Stenstròˆm and Dr. Angelos
Arelakis, with the vision to deliver the most efficient memory
compression available, in real-time, based on state-of-the-art
research. Today the company works with industry leaders on product
implementation projects and technical evaluations. In April 2024, ZeroPoint joined the Intel
Ignite global startup accelerator program for early-stage deep tech
startups.
About Matterwave
Matterwave Ventures is a Munich-based venture capital firm specialized
in deep tech innovations with industrial applications and investing
throughout Europe. Matterwave
focuses on the early development stages of technology companies,
including hardware- and software-based business models. The goal is
to back world-leading companies that drive the future of industrial
value creation. Matterwave invests "full stack", from materials and
components to complete systems and software solutions. Over the
past 20+ years, the team has invested in more than 60 companies.
With over EUR 200 million of capital
under management, Matterwave typically participates in Seed and
Series A financing rounds across Europe with initial investments of up to
EUR 4 million.
About Industrifonden
Industrifonden is Sweden's
Venture Capital Fund looking for unique, scalable innovation that
has a meaningful impact on our society. Industrifonden manages more
than SEK 5 billion and invests in
early-stage companies, from seed to A-round funding with a reach
across the Nordics. The investment focus includes specialized
technologies and businesses within Deep Tech, Life Science, and
Transformative Tech. Industrifonden has an evergreen structure that
allows a long-term focus on value creation. Learn more
at industrifonden.com.
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SOURCE ZeroPoint Technologies AB