Esperanto Technologies announced that it has received $58 million from several strategic and venture capital investors in its Series B funding round, bringing the total investment in Esperanto to $63 million.

The money will be allocated toward the product development of Esperanto’s first generation 7nm solutions for artificial intelligence and machine learning. It also includes more than a thousand energy efficient ET-Minion RISC-V cores on a single 7nm chip. Esperanto’s employees consist of over a hundred engineers, AI experts, processor architects, chip designers, software developers and system engineers.

“Despite still operating largely in stealth mode, we appreciate this strong show of support from strategic and VC investors who had confidential briefings about our plans and believe we have a compelling solution for accelerating ML applications,” Dave Ditzel, Esperanto’s president and CEO said. “Esperanto has assembled one of the most experienced VLSI product engineering teams in the ML industry, and we believe that will be a differentiating factor as we drive toward our 7nm products.” 

For more information, please visit www.esperanto.ai.