Pittsburgh-based chip startup Efficient Computer has secured over $97 million in a Series B funding round. The investment brings the company's total funding to $173 million, following a $60 million Series A round closed seven months ago. The latest financing values the business at $650 million.
The round was led by TQ Ventures, with participation from Eclipse, Union Square Ventures, Giant Ventures, Triatomic Capital, TO Capital, TF Capital, Mana Ventures, Toyota Ventures, Overmatch, and Borderless. The company plans to use the capital to scale its Fabric architecture and ship its Electron E1 processor.
The Electron E1 chip is currently in volume production. It is designed for general-purpose computation, including AI, and targets energy efficiency improvements of 10x to 100x compared to existing systems. The chip is intended for use in physical AI, autonomous systems, critical infrastructure, space, defense, and wearables.
Efficient Computer utilizes a spatial dataflow design paired with the effcc compiler, allowing developers to run C, C++, and common AI frameworks without code modifications. The company was founded by Brandon Lucia, Graham Gobieski, and Nathan Beckmann, who began their research at Carnegie Mellon University.
