Nyriad Ltd Closes US$8.5 Million Series ...

Press release published by: https://www.prnewswire.com/
Source URL: https://www.prnewswire.com/news-releases/nyriad-ltd-closes-us85-million-series-a-financing-round-300593962.html

Exascale computing company Nyriad Limited has announced it has completed its Series A investment round, bringing it to a total of over US$11 million raised to date. The funds will be used to support the continuing expansion of the business in Cambridge, New Zealand, including further investment in expanding its engineering resources and release of its first product to market in Q1’18.

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Founded in 2014, Nyriad specialises in the use of GPUs for converging computing and IO to minimize data movement during processing of large data sets, significantly improving power consumption and accelerating performance for next-generation data centres and supercomputers. It announced its first product, NSULATE, at SC17 in Denver, Colorado.

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