Neural Magic Announces $30 Million Series A Funding Led by NEA

Neural Magic, the AI company building a software platform for deep learning inference, announced a $30 million Series A funding round led by existing investor NEA with participation from Andreessen Horowitz, Amdocs, Comcast Ventures, Pillar VC, and Ridgeline Ventures. This financing brings the company's total amount raised to $50 million. The new capital will be used to advance Neural Magic's leadership in pure software machine learning acceleration and to support the success of a growing community of developers. Born out of MIT, Neural Magic creates groundbreaking algorithms and tools that bring software, rather than specialized hardware, to the center stage in machine learning (ML) infrastructure. The company creates machine learning models that deliver GPU class performance on commodity CPU hardware, creating a flexible world of AI delivered and executed purely in software.