Sunday, July 14, 2024

ZeroPoint Technologies Closes Funding Round for Groundbreaking Hardware-Accelerated Memory Compression Technology

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ZeroPoint Technologies AB closed a EUR 5.0 million Series A, led by European Deep Tech fund Matterwave Ventures. Additionally, Nordic Deep Tech fund Industrifonden served as the local lead for this round. Other existing investors participating include Climentum Capital and Chalmers Ventures. The new capital will be used to scale sales of existing products, bring additional hardware-accelerated memory products to market, and grow the company’s existing teams in Sweden and the United States.

“ZeroPoint Technologies’ customers include some of the biggest semiconductor companies in the world and our products are in demand by data center operators looking to overcome the mounting challenge of memory bottlenecks,” said Klas Moreau, CEO of ZeroPoint Technologies. “In fact, leading hyperscalers, such as Meta and Google, are now specifically calling for hardware-based compression technologies related to CXL-connected memory.”

“We are thrilled to back ZeroPoint Technologies and its world-class team on their mission. Their sophisticated memory compression and compaction technology has immense potential to improve performance and resource efficiency across many categories of devices. We have been impressed by the ZeroPoint team’s ability to engage with industry leaders and are excited to support their further growth and impact,” said Silviu Apostu, principal at Matterwave Ventures.

“Industrifonden has proudly supported ZeroPoint Technologies over the last three years and we are pleased to continue that support as they accelerate through commercialization,” said Tobias Elmquist, senior investment director at Industrifonden. “With market trends such as the rapid expansion of AI, we believe that the memory bottleneck issue is more urgent today than when we made our initial investment in ZeroPoint.”

Also Read: King Street Acquires Majority Interest in Colovore, a Leading Liquid-Cooled AI Data Center Operator

Typically, up to 70% of data stored is redundant. ZeroPoint’s products dramatically reduce that waste, which frees up memory capacity and increases bandwidth. This is accomplished by the company’s first of its kind hardware-accelerated compression and compaction solution. It combines lossless ultra-fast data compression with real-time data compaction and transparent memory management.

Given the exponentially increasing memory demands of today’s applications, partially driven by the explosive growth of generative AI, ZeroPoint addresses the critical need of today’s hyperscale and enterprise data center operators to get the most performance and capacity possible from increasingly expensive memory. ZeroPoint’s solutions are proven to increase memory capacity by 2-4x while also delivering up to 50% more performance per watt. In combination, these two effects can reduce the total cost of ownership of data center servers by up to 25%.

ZeroPoint’s technology is 1,000x faster than other compression technologies on the market, which allows ZeroPoint to compress data across the entire memory hierarchy — all the way from Cache to Storage. ZeroPoint‘s technology is agnostic to data load, processor type, architectures, memory technologies and processing node, and the company’s IP has already been proven on a TSMC 5nm node.

Source: PRNewsWire

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