Mythic Raises $13M

Mythic, an Austin, TX-based AI processor company with analog compute-in-memory technology, raised $13M in funding.

The round was led by Atreides Management, DCVC, and Lux Capital with participation from Catapult Ventures and Hermann Hauser Investment.

The company intends to use the funds to bring to market its M2000 series product, which builds on the legacy of its M1076 Analog Matrix Processor (Mythic AMP™). M1076, which is already shipping to high-profile customers like Lockheed Martin, was the industry’s first to achieve 33ms latency on full HD high-accuracy object detectors like YOLOv5, while running in a cost and power envelope suitable for edge systems.

Led by new CEO Dave Fick, who co-founded the company and previously served as CTO, Mythic delivers power and performance thanks to its analog compute-in-memory (CIM) architecture that uses high-density analog memory to store neural networks completely on-chip. This density combined with integrated computation allows Mythic to deliver the same level of performance as a desktop GPU, in a platform that’s more compact, and power- and cost-efficient.

The company also plans to further grow its headcount in 2024 as the M2000 series nears production.