Xerox Ventures Announces Investment in Edge AI Processor Platform Quadric15 December 2022
NORWALK, Conn., December 15, 2022, — Xerox Ventures, the corporate venture capital subsidiary of Xerox Holdings Corporation (NASDAQ: XRX), announced today its investment this past May in machine learning processor intellectual property (IP) licensor Quadric’s Series B funding round. This round of financing was led earlier in 2022 by Denso and MegaChips, with participation from Mesh Ventures, Pear, Uncork Capital, Leawood VC and Cota Capital.
Through its investment in Quadric, Xerox Ventures continues to deliver on its overall investment strategy, focused in part on startups that are bringing disruptive change. Quadric is building the industry’s first General Purpose Neural Processing Unit (GPNPU), the most advanced high-performance edge processing platform optimized for on-device AI at the network edge. The company’s Chimera™ GPNPUs accelerate the entire machine learning inference application pipeline on-device without the use of a powerful central processing unit (CPU), and its software is flexible and adaptable to fit users’ specific needs.
“The edge AI industry is on the verge of massive growth, and the flexibility and scalability of Quadric’s technology is paving the way for new capabilities in AI computing,” said Chris Fisher, managing partner of Xerox Ventures. “Quadric’s founding team has a unique combination of deep technical expertise in hardware design and software programming, and a thorough understanding of the challenges faced by enterprises when deploying machine learning compute solutions at scale. The company’s processor IP provides chip design teams with advanced machine learning inference capability as well as pre-and-post processing tools they can deploy quickly without the need to build their own technology from scratch.”
“Xerox Ventures’ investment in our technology shows just how ripe this market is for new innovation,” said Veerbhan Kheterpal, co-founder and CEO of Quadric. “We appreciate the team’s support as we continue to scale our team to deliver our IP to our customers.”
Learn more about Xerox Ventures here.
About Xerox Ventures
Established in 2021 as the corporate venture capital fund for Xerox Holdings Corporation, Xerox Ventures invests in early and growth-stage startups that emphasize Connected Work, Empowered Businesses and Green Enterprise. The company’s mission is to accelerate disruptive change – whether that be through software, cleantech, the internet of things (IoT/IIoT), advanced manufacturing, fintech, cybersecurity, or other deeptech avenues (software or hardware). More than an investor, Xerox Ventures offers its portfolio companies access to customers, tech partnerships, R&D support, and Xerox’s own wealth of expertise at the intersection of digital and physical.
Quadric is building a unified, end-to-end hardware and software architecture optimized for on-device AI computing at the network edge. Quadric offers an integrated full-stack software and hardware platform with optimized algorithms and next-generation processor technology that delivers unmatched capabilities and efficiency across applications for high-performance edge computing. With AI becoming a business necessity in the global economy, customers need complete AI solutions deployed at scale. Leveraging an integrated full-stack platform, including best-in-class AI models, software and hardware, Quadric enables the deployment of the most impactful AI applications in the world. Quadric’s unique ability to handle both neural backbones and classical dynamic data-parallel algorithms in a unified architecture is helping to create AI for everyone, everywhere. Learn more at quadric.io.