Israeli startup NextSilicon is now a unicorn with a $1.5 billion valuation. The company reached this milestone after recently completing a $120 million round led by Third Point Ventures. The company which designs computer chips and offers what it calls an innovative solution to boost supercomputers has raised a total of $200 million to date, according to Calcalist.
Israel is not known as Startup Nation for nothing. And now Startup Nation may be known as Unicorn nation. A unicorn is a startup which is still a privately held company that has already reached a billion dollar plus valuation. NextSilicon is now the thirteenth Israeli startup to hit this mark since the start of 2021. It follows Verbit, an Israeli developer of an AI-powered transcription and captioning platform. Verbit is now worth $1 billion.
Founded in 2018 by Elad Raz, NextSilicon boasts that it offers a radically new approach to HPC architecture that drives the industry forward by solving its biggest, most fundamental problems.
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NextSilicon declares that the company brings together top talent in the areas of computing, business operations, and product design, management, and marketing. Its R&D team comprises individuals at the top of their fields who have proven records in chip design and software development. “We are committed to building a work environment that is fun, inclusive, and provides equal opportunities for everyone, because we believe this leads to happy and productive employees,” says NextSilicon.
“NextSilicon is a unique company in the semiconductor startup industry. Its technology leverages software algorithms as the main driver to speed up compute-intensive applications,” said Raz, CEO of NextSilicon, which is believed to have annual revenue in the tens of millions of dollars.
“NextSilicon’s architectural concept is revolutionary in terms of the efficiency and scale of silicon-based computing platforms,” said Yuval Ariav, managing partner of Symbol and NextSilicon’s first investor and current board member. “This innovation will completely reshape the computing industry, and perhaps more importantly will dramatically boost scientific research and development. I expect that Elad and his team will change the way the global tech community perceives the potential of the Israeli startup ecosystem.”