Tuesday, July 7, 2020

MemComputing Finds New Funding

San Diego-based MemComputing, a developer of high performance computing technology, has raised a round of funding, the company said on Tuesday, from two investors. According to MemComputing, the funding came from Revolution's Rise of the Rest Seed Fund, along with IT-Farm. MemComputing says it has now raised over $3M in total funding. MemComputing, led by CEO and co-founder John Beane, said the funding will go towards accelerating its product development and to expand sales and marketing. MemComputing said it working on its first Application Specific Integrated Circuit (ASIC), in addition to its software--the company says it is working with customers in the oil and gas, transportation logistics, and Department of Defense.