Neuromorphic processor company Innatera has raised $21 million in an extended Series A funding round.

The company initially raised $16m in March but the round was oversubscribed, leading to the startup raising an additional $5m from new investors this month.

Investors in the original round include EIC Fund, MIG Capital, Matterwave Ventures, and Delft Enterprises.

Founded in 2018 and based in Rijswijk, the Netherlands, the company was spun out of the Delft University of Technology. In January, Innatera unveiled its Spiking Neural Processor T1 - an ultra-low power processor.

Comprising of the company’s proprietary event-driven computing engine, a RISC-V CPU, and a convolutional neural network accelerator, Innatera claims it “unlocks groundbreaking applications in battery-powered, power-limited, and latency-critical devices” such as wearables, smart home devices, and consumer electronics applications.

Innatera says that by using a highly efficient analog-mixed signal neuromorphic architecture, it allows sensor data to be processed with 500x less energy and 100x faster in comparison to conventional approaches.

Production of the T1 is expected later this year, with high-volume deliveries slated for Q2 of 2025.

“We’re thrilled by the overwhelming support from investors, which underscores the immense potential of our neuromorphic processors,” said Sumeet Kumar, CEO of Innatera. “Innatera’s latest offering is radical in terms of its architecture and its efficiency, yet it only scratches the surface of what neuromorphic computing can do for Edge applications.

He added that the funding will accelerate Innatera’s journey towards mass production and enable it to “meet the burgeoning demand for energy-efficient computing solutions.”