SiPearl raises €90m in Series A round
Summary
The funding will allow SiPearl to commercialize Rhea, its HPC processor, in early 2024. Rhea is designed to work with any third-party accelerator (GPU, artificial intelligence, quantum).Additional investors are expected to join the round by the end of 2023.Investors are: Arm, Atos Group, the European Innovation Council (EIC) Fund, The French State, via French Tech Souverainet\xe9, which is part of France 2030.The financing includes up to 25m in convertible debt from the European Investment Bank (EIB).Additional investors are expected to join the round by the end of the year.This brings SiPearls total financing to 110.5 million, including 20.5 milkion worth of EU and French grants provided through the European Processor Initiative (EPI) consortium project, the EIC Accelerator program and Ile-de-France region.Formal cooperation agreements with GPU providers (AMD, Intel, NVIDIA) and artificial intelligence processor provider (Graphcore) have been announced.Rhea will equip European supercomputers to reach exascale power with back-door free security and reduced energy consumption.The company employs 130 people in France in Maisons-Laffitte, Grenoble, Massy, Sophia Antipolis), Germany (Duisburg) and Spain (Barcelona).