Built in Boston & Bostinno Honor Neural Magic for Growth & Potential
Recently, we’ve had the honor of being named to two local lists that celebrate Boston-area companies that demonstrate high growth potential and innovative technology. Boston has always been a hotbed of innovation, with prestigious universities like MIT and Harvard situated here, and a long history of achievement in the sciences, medicine, and technology. It’s not shocking that so many cutting-edge companies are born here, and we’re excited to be considered one of them.
Today we’re sharing a little more about these accomplishments. Thank you so much for following along on our company journey.
Built in Boston’s 50 Startups to Watch
Built in Boston’s list of 50 Startups to Watch celebrates companies that are less than three years old and are poised for a promising 2020. Their site points out that, in December 2019 alone, 41 startups in Boston raised more than $920 million. That staggering figure makes sense given our heritage, but that doesn’t make it any less impressive.
We are proud to be featured among companies making waves in such diverse areas as surgical robotics, cryptocurrency, and travel tech. We were interested to see several companies in widely varied industries making use of artificial intelligence and machine learning, like Fairmarkit, Katai and Fritz AI.
Here’s what the site had to say about Neural Magic:
“Many companies working in AI build and run models that can only be processed on graphic processing units (GPUs). The team at Neural Magic didn’t get the memo. Using its own proprietary data inference engine, data scientists and AI engineers can run machine learning models on commodity central processing units (CPUs) at GPU speeds and better, a big deal since the high cost of hardware is typically what prevents companies from experimenting in large-scale machine learning projects. In November 2019, the stealthy company raised $15 million in funding, which it will use to grow out the team.”
Bostinno 20 Startups to Watch in 2020
Bostinno’s list of 20 Startups to Watch in 2020 was compiled using factors like funding, partnerships, awards, technology licenses and more. We were happy to be listed on the list of “startups that are on the precipice of something big.”
Our Chief Commercial Officer, Bryan House, also joined the startups panel at the award show for 20 Startups on January 22, 2020, where topics ranged from lessons learned to plans for the coming year and beyond.
Here’s how Bostinno explained our inclusion on the list:
“Some would argue that the world is being transformed by artificial intelligence. If that is true, Somerville-based Neural Magic has some imperative technological changes to offer. The startup, founded by MIT scientists Nir Shavit and Dr. Alex Matveev, is pioneering a ‘no-hardware AI’ model with its software-only solution. The company’s software processes deep-learning workloads on CPUs, eliminating the need for the specialized hardware usually required for that kind of computation.”
Onward and Upward
A big thank you to Built in Boston and Bostinno for our inclusion on their lists. We’re geared up and ready for a big year over here at Neural Magic. If you’re interested in joining our team, check out our Careers page.
If you’d like to see for yourself what “no hardware AI” is all about, and how it could help your team achieve better machine learning outcomes faster, cheaper, and more sustainably, Sign Up for Early Access