MemryX

What MemryX does

MemryX is a fabless semiconductor company headquartered in Ann Arbor, Michigan, founded in 2019 by Dr. Wei Lu and Dr. Zhengya Zhang, both professors of Electrical Engineering and Computer Science at the University of Michigan. The company designs and sells the MX3 Edge AI Accelerator, a chip built on proprietary compute-at-memory technology and a configurable dataflow architecture that uses memory as the only interconnect between compute engines. The MX3 delivers up to 6 TFLOPs at 1GHz, consumes 0.5-2W per chip, supports BF16 activations with block floating point for accuracy preservation, and scales from a single chip up to 16 interconnected chips (96 TOPS) using a unified software stack and host interface (PCIe Gen 3 or USB 3).

The product portfolio includes the standalone MX3 chip, the MX3 M.2 AI Accelerator Module (4-chip, 24 TFLOPS, 2280 M-Key form factor, $149 retail price point), and the Cascade deployment platform spanning PCIe, USB, and Raspberry Pi HAT+ form factors. A software suite (Smart compiler, Python/C/C++ APIs, Runtime, Bit Accurate simulator) and the Developer Hub enable customers to compile and deploy their own trained AI models without a model-zoo lock-in, with industrial temperature range support (-40C to +85C). Revenue is generated through hardware sales distributed via direct enterprise sales, channel partners (WPG Americas, Mouser, Macnica), and e-commerce (Amazon), targeting customers in video management systems, industrial automation, retail, automotive, and smart vision applications; named customers include ASUS IoT, DYNICS, Lenovo, ARBOR Technology, DFI, and BIOSTAR.

The company has raised $44 million in cumulative funding across Series A (May 2021, investors including ARM IoT Capital, HarbourVest, M Ventures, eLab Ventures, Motus Ventures, University of Michigan) and Series B (March 2025, $44M). MemryX operates from offices in Ann Arbor, Bangalore, Taipei, Hsinchu, and Riyadh, and was led by Keith Kressin (ex-Qualcomm) as CEO from December 2021 until Ross Jatou (ex-NVIDIA, onsemi, Alat) succeeded him in June 2026 alongside the appointment of Joe Faris (ex-Intel, Luminar) as VP of Sales and Marketing. The company is developing the MX4 next-generation architecture, which extends the compute-at-memory design with 3D memory and asynchronous dataflow targeted at Edge and Data Center applications.

Name

MemryX

Legal name

MemryX Inc.

Website

https://memryx.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Fabless semiconductor company developing the MX3 Edge AI Accelerator, a compute-at-memory chip delivering up to 6 TFLOPs at 0.5-2W for power-efficient edge AI inference in industrial, video management, retail, and smart vision applications.

Ownership category

akta.pro rank

Product category

Edge AI Semiconductor Accelerators

NAICS

Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (33451), Computer and Peripheral Equipment Manufacturing (33411)

SIC

Industrial Instruments For Measurement, Display, And Control (3823)

akta.pro primary industry

Edge AI Hardware & NPUs (SoCs, modules, accelerators) (HDAAAJAC)

akta.pro secondary industries

AI Server Systems & HGX/Accelerator Platforms (HDAAAAAB), Advanced SoCs & Application Processors (HDAHAAAB), Embedded & Compute Modules (SoMs, COM Express/SMARC, industrial SBC modules) (IMAGAJAK), AI Compiler, Runtime & Kernel Optimization Software (CUDA/ROCm/XLA, graph compilers) (HDAAAAAI)

Keywords

• Edge AI accelerators
• AI inference chips
• Semiconductor IP
• Edge computing hardware
• Compute-in-memory

Headquarters

HQ city

Ann Arbor

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Marketing or Sales, Operations

Revenue model

1. Hardware Sales - AI Accelerators: Sale of MX3 Edge AI Accelerator chips and M.2 modules as standalone products for edge AI inference acceleration. Products include MX3 chip, MX3 M.2 AI Accelerator Module, and Cascade 100 series (100P PCIe, 100U USB, 100R Raspberry Pi HAT+).
2. Enterprise Solutions: Custom enterprise deployments and solutions integration through system integrators and partners for industrial, automotive, retail, and smart city applications.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

MemryX designs and sells MX3 edge AI accelerator chips and M.2 modules that deliver high-performance, low-power AI inference for edge devices. The product line has expanded to include the Cascade 100 deployment platform with PCIe, USB, and Raspberry Pi HAT+ form factors, all supported by the MemryX Software Suite (compiler, APIs, runtime) and the Developer Hub. Customers include OEMs and system integrators across industrial automation, video management, retail, automotive, and smart city applications.

Product overview

MemryX is a fabless semiconductor company offering a unified Edge AI accelerator portfolio anchored by the MX3 architecture. The product line includes standalone MX3 chips, 4-chip M.2 modules, and the expanded Cascade platform with PCIe, USB, and Raspberry Pi HAT+ form factors. All products share a common MX3 architecture enabling a single scalable deployment ecosystem from low-power embedded devices to high-density edge servers. The portfolio is complemented by MemryX's software suite (Smart compiler, Python/C/C++ APIs, Runtime) and the Developer Hub for streamlined deployment. The company is developing the next-generation MX4 with 3D Memory for data center applications.

Differentiator

Problem solved

Functional benefit

Brands

• MX3: Edge AI Accelerator chip and M.2 module product line featuring up to 6 TFLOPs per chip with high utilization, 0.5-2W power consumption, and support for up to 16 chips interconnected.
• Cascade
• Developer Hub

Products and services

• MX3 Edge AI Accelerator (Chip) Standalone AI accelerator chip delivering up to 6 TFLOPs at 1GHz with bfloat16 activations and 4/8/16-bit weights. Supports up to 16 chips (96 TOPS) interconnected, consumes 0.5-2W per chip, and is intended for OEMs and system integrators building edge AI products.
• MX3 M.2 AI Accelerator Module 4-chip M.2 module delivering up to 24 TFLOPS at 1GHz in 2280 M-Key form factor (22x80mm). Features 42M 8-bit parameters, x2 or x4 PCIe Gen 3 interface, industrial temperature range (-40C to +85C), and is priced at $149 per unit. Targeted at developers, OEMs, and edge AI deployments requiring high performance in compact form factors.
• Cascade 100P PCIe Accelerator High-density edge server AI accelerator using a PCIe interface, supporting up to 16-chip configurations. Part of the expanded Cascade deployment platform built on the MX3 architecture for scaling AI from development to enterprise edge infrastructure.
• Cascade 100U USB Accelerator USB-based AI accelerator for rapid AI prototyping and quick deployment and testing of AI models. Part of the Cascade deployment platform built on the MX3 architecture.
• Cascade 100R Raspberry Pi HAT+ Low-power AI accelerator in Raspberry Pi HAT+ form factor for industrial applications. Enables AI deployment on compact single-board computing platforms, built on the MX3 architecture.
• MemryX Software Suite Comprehensive software stack including the Smart compiler for automated AI mapping, Python and C/C++ APIs, Runtime with driver and firmware for Windows/Linux, and a Bit Accurate simulator for testing models without hardware. Enables users to install and begin compiling AI models in under one hour.

Quantifiable outcome

• Uses less than 10% power of mainstream GPU solutions
• +5 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

AI capability4 records

Feature6 records

Partnerships

14 partnerships are on record, tiered core, flagship and minor.

• Macnica, Inc.coreChannel Partner/ Reseller/ Distributor · 19 December 2025Distribution and solutions partnership with Macnica, one of Japan's largest semiconductor distributors. Macnica became MemryX's primary channel partner in Japan offering localized technical support to expand access to AI accelerators in the Japanese market.
• DataturecoreTechnology or Integration · 29 October 2025Strategic partnership to develop advanced Vision AI solutions at the edge, integrating ARBOR's platforms, Datature's no-code Vision AI software, and MemryX's AI accelerator chips for rapid deployment.
• National Semiconductor Hub of Saudi ArabiaflagshipStrategic or Co-development Partner · 6 May 2025Strategic partnership bringing increased development and customer support within Saudi Arabia, expanding MemryX engineering and customer reach across the Middle East.
• NEOM Investment FundflagshipStrategic or Co-development Partner · 5 May 2025Partnership to accelerate development and deployment of next-generation, energy-efficient edge AI accelerators critical for NEOM's intelligent digital infrastructure.
• Edge AI FoundationminorStrategic or Co-development Partner · 22 April 2025Strategic partnership supporting the mission to democratize and advance edge AI technologies through scalable, high-performance solutions.
• VariscitecoreStrategic or Co-development Partner · 6 January 2025Strategic partnership combining MemryX's AI acceleration technology with Variscite's System on Module (SoM) solutions for enhanced performance and efficiency in industrial and edge computing applications.
• DFIcoreTechnology or IntegrationHardware partner integration of MemryX AI accelerators into DFI's industrial edge AI platforms including ECX700-ADP rugged system for PPE detection.
• BIOSTARcoreTechnology or IntegrationHardware partner integrating MemryX accelerators into BIOSTAR's EdgeComp product line for smart manufacturing, smart retail, and smart city applications.
• ARBOR TechnologycoreTechnology or IntegrationStrategic partnership combining ARBOR's edge computing platforms with MemryX AI accelerator chips for industrial Vision AI solutions. Includes airport baggage handling systems (ARES-1983H-AI).
• Cognitica AIflagshipStrategic or Co-development PartnerStrategic partnership to create flexible, scalable, and efficient Edge-AI platform for large-scale, high-throughput systems with extensive experience in edge deployment.
• CadencecoreTechnology or IntegrationTechnology partnership for chip design tools, with Cadence tools used since MemryX's inception for development of edge AI processing solutions.
• Edge ImpulsecoreTechnology or IntegrationSoftware partnership integrating Edge Impulse's AI developer platform with MemryX hardware to streamline development, testing, and deployment of AI models.
• Nota.aicoreTechnology or IntegrationStrategic partnership enabling Nota.ai's software platform to search, compress, and automatically deploy AI models on MemryX edge AI processors.
• DeGirumcoreTechnology or IntegrationMemryX supported as hardware on DeGirum AI Hub, enabling instant inference using models for object detection, instance segmentation, pose detection, and FPS benchmarks.

Scale indicators9 records

Recent moves8 records

Expansion highlights8 records

Emerging players

• Ambarella: Edge AI SoC company specializing in low-power computer vision and video processing chips for automotive, security, and IoT cameras. Comparable to MemryX in serving VMS and edge vision workloads with integrated AI accelerators, though with a more video-SoC-centric architecture.

Broad incumbents

• NVIDIA: Dominant GPU and AI accelerator supplier with the Jetson edge AI platform (Nano, Orin, Thor) directly competing in edge AI. MemryX's MX3 is positioned as a lower-power, lower-cost alternative to Jetson modules for vision workloads; NVIDIA's incumbent status and CUDA ecosystem make it the primary competitive threat.
• Intel: Semiconductor giant with Movidius VPU and OpenVINO toolkit for edge AI inference, plus broader data center and embedded offerings. Competes with MemryX at the edge through Movidius hardware and SDK-based deployment, leveraging massive scale and ecosystem.
• Qualcomm: Mobile and edge AI silicon provider with AI Engine across Snapdragon platforms. Competes with MemryX in on-device AI inference for IoT, automotive, and edge compute; MemryX's former CEO Kressin came from Qualcomm's Compute and Cloud division.
• Google: Provider of Edge TPU and Coral devices for on-device ML inference. Direct overlap with MemryX's MX3 in the edge AI accelerator category, backed by Google's TensorFlow ecosystem.

Direct peers

• Blaize: Edge AI inference chip company offering Graph Streaming Processor (GSP) architecture for automotive, retail, and industrial edge deployments. Competes head-to-head with MemryX in low-power edge AI accelerator silicon.
• Syntiant: Developer of ultra-low-power edge AI processors (NDP120, NDP200) for always-on audio and sensor applications. Direct peer in the edge AI accelerator space targeting low-power inference at the edge, with overlapping industrial and IoT customers.
• Sima.ai: Edge AI chip company offering MLSoC accelerators for embedded vision systems. Comparable in targeting low-power vision AI at the edge with similar form factors and developer-focused software toolchains.
• Mythic: AI processor company using analog compute-in-memory (CIM) technology for edge AI inference. Closely comparable to MemryX because both leverage in-memory compute approaches for low-power edge AI; Mythic focuses on vision AI workloads similar to MX3.
• Hailo: Israeli fabless AI chip company building edge AI accelerators (Hailo-8, Hailo-15) for vision and ML inference at the edge. Directly competes with MemryX MX3 in the same edge AI accelerator category with similar price/performance positioning and OEM go-to-market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• GitHubgithub.com/memryx
• YouTubeyoutube.com/@MemryxInc
• LinkedInlinkedin.com/company/memryx-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds4 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MemryX