VSORA Secures $4.2 Million in Financing from Otium Capital, Angel Investors
PARIS, Jan. 11, 2023 (GLOBE NEWSWIRE) -- VSORA, an innovative startup offering silicon intellectual property (IP) solutions and autonomous driving/advanced driver assistance systems (AD/ADAS) compute platform chips for Level 2+ through Level 5 AD, today announced it closed a round of financing totaling $4.2 million.
The investment round led by Otium Capital and existing investors will allow VSORA to accelerate development of the Tyr™ family and expand its software and hardware teams to support the increasing needs of current and new customers.
Announced in 2022, the Tyr family is a series of very high-performance compute companion chip enabling L2+ through L5 autonomous vehicles. In addition to support for CNN and RNN, it is also capable of handling newer types of algorithms, such as Transformers, BEVformer and Federated Learning making it ideal to address a Software Defined Vehicle (SDV) development environment.
“We’re exceedingly proud of the Tyr family and are pleased that Otium Capital and our other investors believe in what we’re doing,” notes Khaled Maalej, VSORA’s CEO. “Tyr has the ability to provide up to two PetaFlops processing power with superior implementation efficiency reaching more than 80%, combined with a power consumption less than 10W, something no other company can claim.”
“It’s gratifying that our investors firmly believe that an investment in VSORA is an investment in the future of autonomous driving,” remarks Gilles Labossière, CFO of VSORA.
“VSORA’s solution will dramatically accelerate the roadmap to implement L2+ through L5 autonomous driving vehicles,” states Pierre Ménard, Partner at Otium Capital. “We believe that VSORA will become a strategic enabler of AD and complex algorithmic processing in the future. We look forward to the drive to get there.”
About OTIUM Capital
Otium Capital is a family office managing the assets of Pierre-Edouard Stérin, founder of Smartbox. Our entrepreneurial DNA allows us to support closely entrepreneurs and answer their needs. We invest between €100k and €30m, to take majority or minority shares. Above all, we seek to participate in the strong growth of projects led by ambitious founders. Visit us at Otium Capital.
VSORA provides high-performance silicon solutions for autonomous driving (AD) and intellectual property (IP) solutions for chipmakers designing the latest generations of artificial intelligence (AI), general high-end signal processing used in advanced driver-assistance systems (ADAS) and digital communications systems including 5G. Its powerful multicore architecture eliminates the need for digital signal processing (DSP) and/or AI co-processors and hardware accelerators to provide a level of flexibility achievable only with software programming. Founded in 2015 by a team of DSP and AI scientists and engineers with a long history of successes, VSORA has offices in Meudon-La-Forêt, France, San Diego, Calif., and Taiwan.
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