News and Announcements
B2B deeptech company with Innovate UK grant raising £400K in common stock under SEIS/EIS
- Published September 30, 2022 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
MatLogica is a B2B Deeptech/Fintech company that has developed a revolutionary (Patent pending) software solution that unlocks the full potential of current CPUs for computationally heavy activities, resulting in up to 1000x speed-ups.
Our progress to-date:
- Completed 3 seed/pre-seed rounds;
- Won an Innovate UK grant;
- Used by 2 Tier-2 banks (see recent case study);
- Recognised as a ‘Category Leader in xVA components’ by Chartis;
- Proven to speed up XVA by 1770x (Intel whitepaper);
- Used in Machine Learning;
- Partnered with Tachyum, developer of the world’s first-ever Universal Processor, (see press release).
MatLogica is looking to raise £400,000 in common stock under SEIS/EIS through to December 2022. The funds will be utilised to support the Tachyum Universal Processor and expand into the GPU industry.
MatLogica’s objective is to become the go-to solution for high volume repetitive calculations and machine learning, allowing developers to easily unlock the full potential of modern hardware.
The geeky stuff
New high-performing hardware such as GPU and TPU are designed to address the growing needs for fast compute required by banks, government, and academia. Typically, new high-performing hardware comes with specialised programming languages (such CUDA for NVIDIA GPU). As a result, existing software has to be rewritten which is a risky, multi-year, multi-million project not many can afford.
MatLogica teamed with Tachyum, the supplier of the first universal chip that integrates CPU, GPU, and TPU capability, in August 2022. Tachyum Prodigy, the new chip, will deliver 3x performance for the same CAPEX.
As with other high-performing hardware, migrating existing software to the new architecture will seem challenging.
Extending MatLogica’s existing solution to support this novel hardware natively would enable our customers to seamlessly switch from Intel/AMD CPUs to Tachyum’s Universal Processor. This will make MatLogica’s proposition appeal to a wider audience, as using GPU is seen as the silver bullet for transitioning to a cutting-edge tech architecture by many organisations.
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