Kalray, a French nugget that develops chips for artificial intelligence, raises 10.7 million euros. A financial contribution announced on April 21, 2022 and made with a group of European investors. An issue of convertible bonds for an amount of 6.5 million euros was issued as well as an issue of simple bonds for an amount of 4.2 million euros, details Kalray.
Kalray’s Growth
The French nugget, born in 2008 in Grenoble from a spin-off from CEA-Leti, is developing a new type of processor for massively parallel processing, suitable for on-the-fly processing of large data streams for critical real-time decision-making. . Kalray’s processors are useful for cloud and edge-level data processing (at the edge of networks). The semiconductor specialist is a so-called “fabless” company, which means that it does not have its own production capacities but relies on third parties to manufacture its products.
“The funds raised will allow us to supplement our financial resources and cover our operating needs by diversifying our sources of financing and the profile of our investors”, explains Eric Baissus, chairman of the management board of Kalray, in a press release. This financial contribution comes after the announcement of the acquisition of Arcapix, a software publisher specializing in storage solutions for intensive computing applications. Complementary software solutions for Klaray processors designed for massively parallel processing.
“Kalray is in the process of changing dimensions with, in particular, the takeover of the company Arcapix and a strong growth objective for our turnover starting this year”, adds Eric Baissus. On the occasion of the presentation of the acquisition of Arcapix, Kalray announced that it is aiming for a turnover of 20 million euros in 2022 and 100 million in 2023, against 1.2 million euros in 2021.
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