# MemryX

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/memryx

- Industry: Electronics
- Headquarters: Ann Arbor, US
- Website: www.memryx.com
- Total disclosed funding: $9M
- Latest round: Series A (Nov 25, 2020)
- Investors on record: 3

## About

MemryX Inc, based in the US, specializes in developing advanced AI hardware solutions, primarily through its innovative MX3 AI Accelerator Module, focused on enhancing edge computing capabilities across multiple industries.Founded in 2019 in Ann Arbor, US, MemryX Inc designs and manufactures AI hardware solutions that enhance data processing capabilities. The company, led by CEO Wei Lu, has actively engaged in three funding deals, with its latest being a Series B round in March 2025, raising USD 44.00 mn, bringing the total amount raised to USD 44.00 mn and giving it a current valuation of USD 131.95 mn.MemryX specializes in advanced artificial intelligence hardware solutions, primarily through its flagship product, the MemryX MX3 M.2 AI Accelerator Module. This module features multiple MX3 chips that collectively deliver up to 24 TFLOPS of performance while maintaining a low power consumption of approximately 0.6-2 watts per chip. Designed for edge computing, the MX3 seamlessly integrates with existing systems via a PCIe interface, enabling rapid deployment of AI models without constraints. The technology caters to various sectors including video management, industrial automation, and educational applications, targeting clients who require real-time processing from large volumes of data. MemryX's products are marketed globally, focusing on regions such as North America, Europe, and parts of Asia, experiencing rapid advancements in AI technology and edge computing.MemryX generates revenue through direct sales of its AI accelerator hardware and associated software solutions, primarily operating on a B2B model. Clients, including businesses in video management and industrial sectors, purchase the MX3 modules and software licenses to enhance their AI capabilities. Partnerships often include volume discounts for bulk purchases or long-term commitments. Pricing is based on specific configurations and performance metrics of the products, ensuring efficient and scalable AI solutions tailored to customer needs.MemryX plans to leverage the recent Series B funding of USD 44.00 mn, raised in March 2025, to increase production of its MX3 AI accelerator and finalize the design of its upcoming MX4 model. The company is also targeting expansion into new geographic regions, focusing on markets that are rapidly adopting AI technologies, with plans for deployment by the end of 2025.

## Funding rounds

- Series A, Nov 25, 2020, $4M — University of Michigan Social Venture Fund
- Seed, Apr 9, 2019, $5M — Motus Ventures, ELab Ventures

## Investors

- Motus Ventures (https://capitalatlas.ai/funds/motus-ventures) — Seed
- ELab Ventures (https://capitalatlas.ai/funds/elab-ventures) — Seed
- University of Michigan Social Venture Fund (https://capitalatlas.ai/funds/university-of-michigan-social-venture-fund) — Series A