DEPO Ventures and Tensor Ventures Sell AI Chip Startup NEURONIX to US Tech Giant

Reducing Energy and Costs in High-Tech Industries

Founded in 2020 by Yaron Raz and Asher Hazanchuk, Neuronix AI has been at the forefront of developing solutions that reduce energy consumption and operational costs in sectors such as semiconductors, security technologies, and smart cities. Thanks to its technologies, it enables the increase of hardware computing capacity to keep up with advancements in artificial intelligence. “We've always believed in the transformative potential of our technology to drive great improvement in AI/ML processing, particularly for edge computing environments. The acquisition by Microchip not only validates our vision but more importantly provides us with the resources and platform needed to accelerate our impact on the market,” said Yaron Raz, co-founder at Neuronix.

The startup, which boasts several patents and over two decades of industry experience among its team members, was initially discovered by Depo Ventures and later nurtured to success with the strategic partnership of Tensor Ventures.

"Our involvement began when Yaron approached me as a mentor during the winter cohort of the Alchemist Accelerator in 2021. I immediately knew we had to seize the opportunity to invest. Despite being perceived as 'too deep tech' by many Silicon Valley funds at the time, I reached out to Tensor Ventures to join us. This American-Israeli-Czech collaboration has been instrumental in the startup’s journey, playing a strategic role in the success of Yaron and his team. It proves that investments in cutting-edge technology are worthwhile. I thank Yaron and Asher for their dedication and hard work, and wish them continued success under the umbrella of Microchip Technologies." said Michal Ciffra, partner at DEPO Ventures who also leads the latest DEPO Syndicate that has seen a nice appreciation in their investments as well.
 

Yaron Raz, Co-Founder & CEO at Neuronix AI Labs

"The sale of our stake in Neuronix is quite extraordinary given the fiercely competitive market in Israel," said Petr Ulvr, co-founder of Tensor Ventures, who oversaw the transaction for the fund. "The success of this transaction is closely tied to the direct involvement of Tensor Ventures in the M&A process, and our extensive experience in the semiconductor industry, particularly insights from Intel." 

In this case, it's clear that it wasn't just about funding. Investors can play a vital role in a startup's development, and Neuronix is a good example. “Working with Tensor and DEPO as key investors has proven to be much more than simply getting funded. We found investors who shared our vision and were looking to help us in connections to relevant customers and partners within Europe, as well as help through the strategic process of raising additional funding an going through the acquisition process,” add Yaron Raz.

Strategic Partnerships Fueling Innovation and Investment Success

In addition to their successful collaboration on Neuronix AI, Tensor Ventures and Depo Ventures have also embarked on another promising venture, investing together in the global blockchain platform TATUM. This strategic co-investment underscores the importance of collaboration between investment funds, which may significantly contribute to the growth and scalability of their startups.
Will the next exit of these two investors be even bigger?