Israeli start-up focusing on AI-based solutions secures $8m. in seed

"Our mission is to deliver AI users best in class system performance while significantly reducing cost and power,” said Founder and CEO of NeuReality Moshe Tanach.

Facial recognition is currently being used to cross borders and even enter hospitals. To ensure AI systems aren't biased, AnyVision researcher Dr. Eduard Vazquez told the Post, you must have excellent data. (photo credit: Courtesy)
Facial recognition is currently being used to cross borders and even enter hospitals. To ensure AI systems aren't biased, AnyVision researcher Dr. Eduard Vazquez told the Post, you must have excellent data.
(photo credit: Courtesy)
Israeli tech start-up NeuReality has secured $8 million during seed round funding to support the research and development of its AI-powered solutions.
NeuReality's focus is creating purpose-built AI platforms for ultra-scalability of real-life AI applications. NeuReality plans on introducing its first AI platform to address scalability and cost issues currently facing the market.
NeuReality says that its software could be tuned to assist large cloud-based servers and systems such as Facebook, Microsoft and Amazon, digital assistants such as Google's Alexa and Apple's Siri, language-based applications, as well as computer vision software, that seeks to automate tasks and gain a high-level of understanding from imagery that only the human eye seems to possess at the moment.
"Our mission is to deliver AI users best in class system performance while significantly reducing cost and power,” said Founder and CEO of NeuReality Moshe Tanach.
“We are already consuming huge amounts of AI in our day-to-day life and it will continue to grow exponentially over the next five years," Tanach explained. "In order to make AI accessible to every organization we must build affordable infrastructure that will allow innovators to deploy AI-based applications that cure diseases, improve public safety and enhance education."
Neureality founders. From left to right - VP VLSI Yossi Kasus, CEO Moshe Tanach, VP Operations Tzvika Shmueli. (NeuReality)Neureality founders. From left to right - VP VLSI Yossi Kasus, CEO Moshe Tanach, VP Operations Tzvika Shmueli. (NeuReality)
Tanach, along with VP Operations Tzvika Shmueli and VP VLSI Yossi Kasus, founded NeuReality in 2019. Prior to their involvement, the three served in various executive roles at tech companies such as Marvell, Intel, Habana Labs, Mellanox etc. - using their industry expertise to leverage new technologies.
NeuReality also appointed Dr. Naveen Rao, an AI-industry veteran who formerly served as the general manager of Intel’s AI Products Group, to NeuReality's Board of Directors. Rao had been the CEO of Nervana systems before its acquisition by Intel in 2016.
"After seeing so many AI companies focusing on deep learning accelerators at the device level, NeuReality intrigued me with their refreshing view of overall AI deployment barriers and their unique system-level approach that will eclipse today’s outdated data center architecture," said Rao, adding that he believes the company can solve AI scalability and cost challenges.
With the $8 million dollar investment from Cardumen Capital, OurCrowd and Varana Capital, NeuReality quadrupled its portfolio, according to the OurCrowd website. It had earned $1,441,380 in a previous round.