ZeroPoint Technologies has completed a Series A funding round totaling €5M, led by prominent European deep tech fund Matterwave Ventures. Nordic deep tech fund Industrifonden also played a key role as local lead investor. The round received continued support from existing investors including Climentum Capital and Chalmers Ventures.
The new capital injection will be used towards several strategic initiatives, including expanding sales of current products, launching additional hardware accelerated memory products and expanding the company's workforce in Sweden and the United States.
Increasing demand from data centers
Klas Moreau, CEO of ZeroPoint Technologies, highlighted that the company's notable customers are large semiconductor companies. He noted that the company is seeing growing demand for its products from data center operators suffering from memory bottlenecks. Moreau noted that large hyperscalers such as Meta and Google are particularly pushing hardware-based compression technology linked to CXL-attached memory.
Silviu Apostu, Principal at Matterwave Ventures, expressed his excitement to support ZeroPoint Technologies and its outstanding team in their mission. He noted that the company's advanced memory compression and compaction technology has the potential to significantly improve performance and resource efficiency across a range of device categories. Apostu praised ZeroPoint's adept collaboration with industry leaders and expressed his desire to help accelerate the company's growth and impact.
Tobias Elmquist, Senior Investment Director at Industrifonden, reaffirmed his firm's long-standing support for ZeroPoint Technologies and highlighted the company's progress toward commercialization. He emphasized the urgency of addressing the memory bottleneck issue, especially in light of market trends such as the rapid expansion of AI.
ZeroPoint Memory Revolution
ZeroPoint's innovative products dramatically reduce data redundancy, free up memory capacity and increase bandwidth utilization. Groundbreaking hardware-accelerated compression and decompression solutions seamlessly integrate lossless, ultra-fast data compression with real-time data compression and transparent memory management.
As memory demands skyrocket, fueled by the exponential growth of generative AI, ZeroPoint's products meet the key requirements of hyperscale and enterprise data center operators. ZeroPoint's solutions can dramatically increase memory capacity by 2-4x and improve performance per watt by up to 50%, effectively optimizing server utilization and potentially reducing total cost of ownership by up to 25%.
Featuring unmatched speed, ZeroPoint's technology enables comprehensive data compression across the entire memory hierarchy, from cache to storage. It is independent of data load, processor type, architecture, memory technology or processing node, and ZeroPoint's IP has already proven itself at TSMC's 5nm node.
