Led by TQ Ventures, the funding round includes backing from Eclipse, Union Square Ventures, and Toyota Ventures. The capital injection arrives as the company moves its Electron E1 processor into volume production. Unlike specialized AI accelerators that often struggle with software compatibility, the Fabric architecture maintains a general-purpose design, supporting languages like C and C++ while promising a 10-to-100-fold improvement in energy efficiency.

CEO Brandon Lucia, who co-founded the company alongside Graham and Nathan, argues that current power limitations prevent developers from building advanced AI-enabled products. By replacing power-hungry embedded GPUs in robotics or accelerating irregular datacenter workloads, the company aims to decouple AI progress from the looming energy crisis. The firm is currently scaling production through 2027 to meet demand across sectors ranging from space and defense to wearable technology.