Mythic, an AI chip startup that last November reportedly ran out of capital, rose from the ashes today with an unexpected injection of fresh funds.
Mythic this morning announced that it closed a $13 million financing round led by existing investors Atreides Management, DCVC and Lux Capital alongside new investors Catapult Ventures and Hermann Hauser Investment. While the tranche is a fraction of the startup’s previous raise ($70 million), Mythic claims that the tranche will enable it to bring its “next-generation” product — an improved energy-efficient AI processor — to market.
“While economic conditions are challenging right now, this new funding will help Mythic focus on its technology offering, go-to-market strategy and customer acquisition,” Dave Fick, Mythic’s newly appointed CEO, told TechCr...
