NovaCompute unveils ARM-based AI accelerator and secures $120M Series C

Tech · 5 min read

NovaCompute introduced the Lyra X1, an ARM-based AI accelerator targeting low-latency multimodal inference workloads in edge and telco data centers. The X1 focuses on quantized transformer models and on-device LLM serving with a claimed 3x improvement in performance-per-watt versus previous generation accelerators.

To support global expansion and silicon ramp, NovaCompute raised $120 million in a Series C led by Bessemer, with participation from SoftBank Vision Fund and strategic manufacturing partners. The funding will go toward tape-out for the next-generation chip, expanding software stack support, and establishing a silicon supply chain.

NovaCompute also released an open-source runtime that offers model-splitting, dynamic batching, and energy-aware scheduling targeted at developers building real-time video analytics, voice assistants, and in-vehicle LLM applications.