Mythic Secures $8.8M to Pioneer AI-on-Chip Technology for Edge Devices
While artificial intelligence (AI) continues to dominate tech conversations, innovative startups like Mythic are pushing boundaries with groundbreaking approaches. The Austin-based company recently announced an $8.8 million funding round, led by DFJ, to advance its mission of embedding AI directly into microchips—eliminating reliance on cloud computing.
Breaking Free from Cloud Dependence
Traditional AI systems depend on massive server racks powered by GPUs, creating latency and connectivity challenges. Mythic’s solution? AI-on-a-chip technology that integrates neural networks directly into hardware, enabling faster, more efficient processing for edge devices like:
- Smart security cameras
- Health wearables
- Drones
- Smart home devices
How Mythic’s Technology Works
Mythic’s co-founder and CEO, Mike Henry, explains their unique approach:
“Most AI microchips separate memory and processors. We’ve eliminated processors entirely by performing computations directly within the memory.”
This innovation addresses critical pain points:
- Reduced Latency: Unlike cloud-dependent assistants (e.g., Alexa, Siri), Mythic’s chips enable instant responses.
- Enhanced Security: Localized AI minimizes hacking risks by keeping data on-device.
- Energy Efficiency: Chips consume significantly less power than cloud-based alternatives.
Market Applications and Future Vision
Mythic is already collaborating with undisclosed early adopters to test its technology. The startup plans volume shipments by mid-2018, with chips tailored for diverse industries:
| Application | Chip Size |
|---|---|
| Health wearables | Shirt-button sized |
| Drone cameras | Pack-of-cards equivalent |
Looking ahead, Henry envisions expansions into robotics, autonomous vehicles, and VR.
Funding and Strategic Growth
The \(8.8 million round included participation from **Lux Capital, Data Collective, and AME Cloud Ventures**. Initially closing at \)5.8 million, Mythic accepted an additional $3 million in unsolicited investments, convertible into a future Series B.
Steve Jurvetson of DFJ, an investor in Tesla and Nervana, praised Mythic’s ingenuity:
“They’ve reinvented machine intelligence computation using standard flash memory—akin to Minecraft’s complex builds.”
The Road Ahead
Mythic, rebranded from Isocline for broader appeal, aims to grow its team to 20 employees across Austin and Redwood City by summer 2018. While Henry dismisses near-term Westworld-style AI consciousness, he acknowledges AI’s evolutionary journey:
“Today’s AI excels at pattern-matching, not human-like reasoning—but the future is limitless.”
With its disruptive technology and strong investor backing, Mythic is poised to redefine AI at the edge—one chip at a time.
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