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Carmel Ventures and Ericsson invest in Adapteva

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Harmeet
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LEXINGTON, USA: Adapteva Inc., innovators in the field of parallel processing and sponsors of the Parallella project, announced that they have closed a $3.6 million Series-B funding round from Carmel Ventures, a premier venture capital firm, and Ericsson, a world-leading communications technology and services vendor.

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The financing will re-inforce Adapteva's long-term plans for delivering transformative technology - semiconductor chips and computing boards that enable the next generation of parallel computing.

"The potential for major returns in energy efficiency and performance gained from parallel processing are clear, and in fact critical, to support rapid growth in the telecoms industry. This makes innovations such as Adapteva's very exciting for Ericsson and for the customers we work with," said Sebastian Tolstoy, Ericsson VP Business Development, PA Radio, BNET.

"Parallel processing and high performance computing (HPC) are of huge interest to us as these markets are developing quickly and changing dramatically," said Ori Bendori, partner at Carmel Ventures. "Adapteva's approach is very different than the traditional silicon vendor model and we believe this could lead an industry transformation - just the type of innovation we like to invest in."

Adapteva, founded in 2008, has developed a unique, scalable and energy-efficient architecture and IP for parallel processing, delivering two parallel processing accelerator chips in 2011. The 16-core and 64-core Epiphany chips are C/C++ programmable floating-point capable RISC multicore processors able to deliver 5GFLOPS/Watt - leading the industry for instruction bound workloads.

To bring Adapteva's solution to a wider audience Adapteva launched the Parallella Project in 2012. With $898,921 raised via a Kickstarter crowd-funding campaign, Adapteva developed the Parallella board, a credit card-sized computer for $99. The Parallella has an ARM processor, an FPGA and the Epiphany parallel processor working together on the board, all consuming less than 5 Watts of power. Initial shipments started in July 2013 and shipment to all 6,300 backers is being finalized in Q1 of 2014.

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