iBionext et al. in $15m round for GrAI Matter Labs

The round was led by iBionext, which invested via its iBionext Growth Fund. The vehicle was launched by iBionext in early 2016 with a target €100m. The growth fund held its first close on €46m in September 2016 and held a final close on €90m in February 2018. 

360 Capital Partners and 3T Finance also took part in the round of funding.

The company said it would use the fresh capital to build up its engineering teams in Eindhoven and Paris, and to move rapidly from technology development to market deployment.

Company
GML develops programmable application processors that provide AI with machine learning capabilities across the Internet of Things. The processors are meant to be used in autonomous navigation platforms such as cars and drones, intelligent cognitive assistants for smart homes and phones, and wearable AI for health monitoring.

GML was founded as Brainiac within the iBionext Start-up Studio in Paris in 2016.

People
iBionext – Bernard Gilly (chair).

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