ZeroPoint Technologies Closes Funding Round for Groundbreaking Hardware-Accelerated Memory Compression Technology

ZeroPoint Technologies Closes Funding Round for Groundbreaking Hardware-Accelerated Memory Compression Technology ZeroPoint Technologies Closes Funding Round for Groundbreaking Hardware-Accelerated Memory Compression Technology PR Newswire GOTHENBURG, Sweden , May 23, 2024 /PRNewswire/ -- ZeroPoint Technologies AB today closed a EUR 5.0 million Series A, led by European Deep Tech fund Matterwave Ventures. Additionally, Nordic Deep Tech fund Industrifonden served as the local lead for this round. Other existing investors participating include Climentum Capital and Chalmers Ventures. The new capital will be used to scale sales of existing products, bring additional hardware-accelerated memory products to market, and grow the company's existing teams in Sweden and the United States . "ZeroPoint Technologies' customers include some of the biggest semiconductor companies in the world and our products are in demand by data center operators looking to overcome the mounting challenge of memory bottlenecks," said Klas Moreau , CEO of ZeroPoint Technologies. "In fact, leading hyperscalers, such as Meta and Google, are now specifically calling for hardware-based compression technologies related to CXL-connected memory." "We are thrilled to back ZeroPoint Technologies and its world-class team on their mission. Their sophisticated memory compression and compaction technology has immense potential to improve performance and resource efficiency across many categories of devices. We have been impressed by the ZeroPoint team's ability to engage with industry leaders and are excited to support their further growth and impact," said Silviu Apostu , principal at Matterwave Ventures." "Industrifonden has proudly supported ZeroPoint Technologies over the last three years and we are pleased to continue that support as they accelerate through commercialization," said Tobias Elmquist , senior investment director at Industrifonden. "With market trends such as the rapid expansion of AI, we believe that the memory bottleneck issue is more urgent today than when we made our initial investment in ZeroPoint." Typically, up to 70% of data stored is redundant. ZeroPoint's products dramatically reduce that waste, which frees up memory capacity and increases bandwidth. This is accomplished by the company's first of its kind hardware-accelerated compression and compaction solution. It combines lossless ultra-fast data compression with real-time data compaction and transparent memory management. Given the exponentially increasing memory demands of today's applications, partially driven by the explosive growth of generative AI, ZeroPoint addresses the critical need of today's hyperscale and enterprise data center operators to get the most performance and capacity possible from increasingly expensive memory. ZeroPoint's solutions are proven to increase memory capacity by 2-4x while also delivering up to 50% more performance per watt. In combination, these two effects can reduce the total cost of ownership of data center servers by up to 25%. ZeroPoint's technology is 1,000x faster than other compression technologies on the market, which allows ZeroPoint to compress data across the entire memory hierarchy - all the way from Cache to Storage. ZeroPoint's technology is agnostic to data load, processor type, architectures, memory technologies and processing node, and the company's IP has already been proven on a TSMC 5nm node. About ZeroPoint Technologies AB ZeroPoint Technologies is a spinout from Chalmers University of Technology in Gothenburg, Sweden , and has over the years developed an impressive IP Portfolio in the memory compression domain. Their patented compression technology is based on 15 years of research. The company was founded by Professor Per Stenström and Dr. Angelos Arelakis, with the vision to deliver the most efficient memory compression available, in real-time, based on state-of-the-art research. Today the company works with industry leaders on product implementation projects and technical evaluations. In April 2024 , ZeroPoint joined the Intel Ignite global startup accelerator program for early-stage deep tech startups. About Matterwave Matterwave Ventures is a Munich -based venture capital firm specialized in deep tech innovations with industrial applications and investing throughout Europe . Matterwave focuses on the early development stages of technology companies, including hardware- and software-based business models. The goal is to back world-leading companies that drive the future of industrial value creation. Matterwave invests "full stack", from materials and components to complete systems and software solutions. Over the past 20+ years, the team has invested in more than 60 companies. With over EUR 200 million of capital under management, Matterwave typically participates in Seed and Series A financing rounds across Europe with initial investments of up to EUR 4 million . About Industrifonden Industrifonden is Sweden's Venture Capital Fund looking for unique, scalable innovation that has a meaningful impact on our society. Industrifonden manages more than SEK 5 billion and invests in early-stage companies, from seed to A-round funding with a reach across the Nordics. The investment focus includes specialized technologies and businesses within Deep Tech, Life Science, and Transformative Tech. Industrifonden has an evergreen structure that allows a long-term focus on value creation. Learn more at industrifonden.com . Logo - https://mma.prnewswire.com/media/2419475/ZeroPoint_Logo.jpg View original content to download multimedia: https://www.prnewswire.com/news-releases/zeropoint-technologies-closes-funding-round-for-groundbreaking-hardware-accelerated-memory-compression-technology-302153012.html SOURCE ZeroPoint Technologies AB PR Newswire May 23, 2024 - 5:04 AM PDT News by QuoteMedia www.quotemedia.com