Who backs neuromorphic chip startups?

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Neuromorphic chip startups have attracted over $500 million in 2024-2025, with Liquid AI's $250 million round leading the charge.

Corporate giants like Intel, AMD, and Samsung are backing these brain-inspired computing companies through both direct investment and strategic partnerships. The funding landscape spans traditional venture capital, government grants, and corporate venture arms, with Europe emerging as a surprising leader in both government support and university spin-offs.

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Who are the most active investors currently backing neuromorphic chip startups and which companies have they funded?

Intel Capital leads corporate venture investment in neuromorphic chips, backing multiple startups while developing their own Loihi processors with over $100 million invested.

AMD Ventures made the largest single bet with their $250 million lead investment in Liquid AI's Series A round, valuing the MIT spin-off at over $2 billion. This wasn't just financial backing—AMD structured the deal to include technology optimization agreements, giving them direct access to Liquid AI's brain-inspired AI models.

Samsung Catalyst Fund actively invests across neuromorphic and AI hardware startups, though they keep specific portfolio details private. M Ventures, the corporate VC arm of pharmaceutical giant Merck, invested in SynSense, showing how non-tech corporates see neuromorphic applications in drug discovery and biological modeling.

Traditional venture capital heavyweights like Sequoia Capital, Andreessen Horowitz, and SoftBank Vision Fund are funding neuromorphic AI startups, treating them as the next evolution of AI hardware. Fidelity Investments co-invested in Liquid AI's massive round, bringing institutional investment credibility to the space.

European government funds dominate the institutional side. The European Investment Council Fund backed Innatera's $21 million Series A, while InvestNL and other Dutch entities position the Netherlands as a neuromorphic computing hub. DARPA has deployed over $50 million through programs like SyNAPSE, funding IBM's TrueNorth development and continuing to back strategic neuromorphic research.

Which neuromorphic chip startups raised the most money in 2024 and 2025 so far, and how much did each raise?

Liquid AI dominates 2024 funding with their record-breaking $250 million Series A round led by AMD Ventures in December, representing the largest neuromorphic investment ever recorded.

Rain AI raised $76 million but faced significant financial difficulties when their planned $150 million Series B collapsed, creating uncertainty about their technology viability and market positioning. BrainChip completed a A$25 million placement in July 2024 specifically for commercializing their Akida 2.0 technology, showing public market confidence in established neuromorphic companies.

Innatera secured $21 million in an oversubscribed Series A round in 2024, with strong backing from European investors including the EIC Fund and InvestNL. The Dutch company is moving their T1 processor into production, making them one of the few neuromorphic startups transitioning from research to commercial manufacturing.

Axelera AI received €61.6 million through an EU grant from EuroHPC Joint Undertaking for their Titania chiplet development, demonstrating how government funding supplements private investment in strategic technology areas. SynSense has raised $43.89 million in total funding across multiple rounds, including recent private equity investment for expanding their commercial neuromorphic sensor products.

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What countries or regions are seeing the most investment in neuromorphic chip technology?

The Netherlands has emerged as Europe's neuromorphic computing hub, with government-backed companies like Innatera and Axelera AI receiving substantial funding and technical support.

United States accounts for 35.6% of the global neuromorphic computing market, driven by major corporate research from Intel, IBM, and breakthrough startups like Liquid AI spinning out of MIT. The combination of university research, corporate R&D, and venture capital creates a robust ecosystem for neuromorphic innovation.

European investment concentration reflects strategic government policy, with the Netherlands positioning itself as a leader through coordinated funding from InvestNL, EIC Fund, and EuroHPC Joint Undertaking. Dutch universities like Delft University of Technology actively commercialize neuromorphic research through spin-offs like Innatera.

Asia-Pacific shows growing momentum with companies like SynSense representing China-Switzerland hybrid development, backed by significant private equity investment. Asian governments are actively investing in AI infrastructure that supports neuromorphic computing development, though specific funding amounts remain less transparent than Western counterparts.

Switzerland hosts significant neuromorphic research through ETH Zurich, which spun out SynSense with $43.89 million in total funding. The country's combination of academic excellence and proximity to European funding sources makes it attractive for neuromorphic startups seeking both technical talent and investment capital.

Which corporate giants are backing neuromorphic chip startups, and what form does their involvement take?

Intel Corporation leads corporate involvement through both direct development and strategic investment, spending over $100 million on their Loihi neuromorphic processor program while Intel Capital backs external startups.

What were the biggest funding rounds in this space in the past 18 months, and who led or participated in them?

Liquid AI's $250 million Series A in December 2024 stands as the largest neuromorphic funding round ever, led by AMD Ventures with participation from Fidelity Investments and other strategic investors.

The AMD investment wasn't typical venture funding—it included technology optimization agreements giving AMD direct access to Liquid AI's models for their hardware platforms. This hybrid investment-partnership structure signals how corporate investors are structuring neuromorphic deals beyond pure financial returns.

Innatera's $21 million Series A represented the largest European neuromorphic funding round, led by the European Investment Council Fund with strong participation from Dutch government entity InvestNL. The oversubscribed round demonstrated investor confidence in European neuromorphic innovation and production capabilities.

Rain AI's troubled $76 million raise highlighted the risks in neuromorphic investing when their planned $150 million Series B collapsed due to technical and financial challenges. The failure became a cautionary tale about due diligence in complex neuromorphic technology assessment.

SynSense's $43.89 million total funding across multiple rounds included significant private equity participation, showing institutional investor interest in established neuromorphic companies with commercial products. Their ETH Zurich origins and Merck backing provided credibility for scaling manufacturing and international expansion.

What are the names of the startups working on breakthrough technologies in neuromorphic computing, and what specific innovations are they pursuing?

Liquid AI develops brain-inspired AI models based on C. elegans worm neural networks, creating more efficient alternatives to transformer architectures for language and reasoning tasks.

Innatera builds the T1 neuromorphic processor designed for ultra-low-power edge AI applications, targeting always-on devices that need to process sensory data continuously without draining batteries. Their chip mimics brain-like spike-based processing to achieve 1000x power efficiency compared to traditional processors.

SynSense creates neuromorphic sensors and processors that combine sensing and processing in single chips, eliminating the traditional separation between data collection and computation. Their technology enables real-time processing of visual and audio data for robotics and IoT applications.

BrainChip commercializes their Akida technology, which processes data using spiking neural networks rather than traditional digital computation. Their approach enables edge AI devices to learn and adapt in real-time without cloud connectivity or extensive training datasets.

Axelera AI develops chiplet-based neuromorphic processors that can be combined into larger systems, allowing scalable neuromorphic computing for data centers and edge applications. Their Titania architecture supports both training and inference for various AI workloads.

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Which research labs or universities have spun out commercially funded neuromorphic chip startups?

MIT leads university commercialization with Liquid AI spinning out in 2023 and immediately raising over $250 million, making it the most successful neuromorphic university spin-off ever.

Delft University of Technology in the Netherlands created Innatera in 2018, which has since raised $21 million and moved into commercial production of neuromorphic processors. The university's strong engineering program and proximity to European government funding created ideal conditions for neuromorphic commercialization.

ETH Zurich and University of Zurich jointly spun out SynSense in 2017, which has raised $43.89 million total funding and developed commercial neuromorphic sensor products. The Swiss academic foundation provided both technical expertise and connections to European pharmaceutical companies like Merck.

Vision Institute (UPMC Paris) created GrAI Matter Labs in 2016, which was later acquired by Snap, demonstrating successful commercialization of French neuromorphic research. The acquisition showed how social media companies value neuromorphic technology for real-time image and video processing.

University of Sheffield spun out Opteran in 2020, which has raised over £12 million for bio-inspired navigation technology based on insect brain research. Their approach applies neuromorphic principles to autonomous vehicle and drone navigation systems.

What stage of development are these startups in and how does this influence who invests?

Production-ready companies like Innatera and BrainChip attract larger institutional investors and government backing because they demonstrate clear paths to revenue and market validation.

Innatera's T1 processor entering production in 2024-2025 attracted the European Investment Council Fund and InvestNL because government investors prefer backing companies transitioning from research to manufacturing. Their $21 million Series A reflected confidence in near-term commercial viability.

BrainChip's commercially available Akida technology enabled their A$25 million public placement, showing how public markets reward neuromorphic companies with proven products and customer adoption. Public investors require demonstrated revenue streams and clear market demand.

Early-stage companies like Liquid AI command high valuations despite limited commercial products because their breakthrough technology attracts strategic investors like AMD who need future AI architectures. Corporate investors pay premium valuations for access to next-generation technologies that could reshape their industries.

Prototype-stage startups typically rely on government grants and strategic corporate investment rather than traditional venture capital. DARPA's $50+ million in neuromorphic funding supports early-stage research that's too risky for private investors but strategically important for national competitiveness.

Are the funding terms generally equity-based, convertible notes, government grants, or strategic partnerships?

Equity-based Series A and B rounds dominate major neuromorphic funding, with Liquid AI's $250 million Series A and Innatera's $21 million Series A representing the standard structure for growth-stage companies.

Government grants provide significant non-dilutive funding, with Axelera AI receiving €61.6 million from EuroHPC Joint Undertaking and DARPA investing over $50 million in neuromorphic research through programs like SyNAPSE. These grants often require matching private investment or technology transfer commitments.

Strategic partnerships combine investment with technology collaboration, exemplified by AMD's $250 million investment in Liquid AI coupled with optimization agreements for AMD hardware platforms. This hybrid structure allows corporate investors to secure both financial returns and strategic technology access.

Convertible notes appear less frequently in neuromorphic funding because the technology complexity requires longer due diligence periods and clearer valuation frameworks. Most investors prefer equity structures that provide governance rights and clearer exit pathways.

Corporate venture capital often includes strategic clauses beyond typical equity investment, such as licensing agreements, joint development programs, or acquisition options. Intel Capital's neuromorphic investments likely include technology sharing agreements that complement Intel's internal Loihi development.

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How much total funding has been invested globally into neuromorphic chip startups in 2024 and so far in 2025?

Over $500 million has been invested in neuromorphic chip startups during 2024-2025, with the neuromorphic computing market projected to grow from $28.5 million in 2024 to $1.325 billion by 2030 at an 89.7% compound annual growth rate.

Liquid AI's $250 million Series A represents roughly half of total 2024-2025 funding, demonstrating how single breakthrough companies can dominate investment flows in emerging technology sectors. The round's size reflects both investor confidence in neuromorphic potential and competition for access to leading technologies.

European funding includes significant government investment through grants and direct funding programs, with the Netherlands alone investing tens of millions through InvestNL and EIC Fund backing. Government funding often doesn't appear in traditional venture databases but represents substantial capital deployment.

Corporate R&D investment from Intel, IBM, and Samsung adds hundreds of millions in additional capital, though this internal spending isn't typically counted in startup funding totals. Intel's $100+ million Loihi investment and IBM's DARPA-funded TrueNorth development represent major corporate commitments.

The funding concentration in 2024-2025 suggests neuromorphic technology is reaching commercial viability, attracting institutional investors who previously avoided early-stage hardware companies. The shift from government grants to private equity signals market maturation and revenue potential.

What are the expected investment trends in neuromorphic chips for 2026, and what signals or forecasts are guiding those expectations?

Market analysts project neuromorphic computing to maintain high double-digit growth rates through 2026, driven by increasing demand for energy-efficient AI processing and edge computing requirements.

Corporate consolidation is expected as larger tech companies acquire successful neuromorphic startups to integrate brain-inspired computing into their product portfolios. The pattern of strategic investments by AMD, Intel, and Samsung suggests these companies are evaluating acquisition targets among their portfolio companies.

Production scaling will attract larger funding rounds as companies like Innatera and BrainChip transition from prototype to volume manufacturing. Investors typically increase funding sizes when companies demonstrate manufacturing capabilities and customer adoption.

Government support will continue expanding as the US, EU, and Asian governments recognize neuromorphic computing as strategically important for national competitiveness. Defense applications and energy efficiency requirements drive sustained government investment regardless of private market conditions.

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Which venture capital firms, government agencies, or defense institutions are known for consistently backing this category?

DARPA leads government investment with over $50 million deployed through programs like SyNAPSE, consistently funding neuromorphic research that bridges academic research and commercial application.

• Corporate Venture Capital: Intel Capital, AMD Ventures, Samsung Catalyst Fund, and M Ventures (Merck) maintain active neuromorphic investment programs as part of their strategic technology portfolios.
• Traditional Venture Capital: Sequoia Capital, Andreessen Horowitz, SoftBank Vision Fund, and Fidelity Investments fund neuromorphic startups as part of broader AI hardware investment strategies.
• European Government: European Investment Council Fund, InvestNL, and EuroHPC Joint Undertaking provide consistent funding for European neuromorphic companies through grants and direct investment.
• Defense Institutions: Beyond DARPA, European defense organizations and Asian military research agencies fund neuromorphic applications for autonomous systems and intelligence processing.
• Specialized Deep Tech VCs: Funds focusing on advanced computing technologies increasingly allocate capital to neuromorphic startups as the technology approaches commercial viability.

Conclusion

Sources

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2. Intel Neuromorphic Computing Research
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15. Dealroom - SynSense Company Profile
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