Brainchip raises $21.5 million

The company raised $6 million in May. It is already a public company with a market cap of $208 million. For FY 2017 it reported a loss of $5.8 million.

The company develops neural network technology which is claimed to deliver fast pattern recognition.

The $21.5 million will be used to develop a “general purpose neural processing unit” which it calls AKIDA and which is scheduled for launch at the end of next year.

di Nardo says the chip will be able to detect patterns in many data types including audio data and cyber security threats and in commodities and equities trading.