AI Chip Design and Data Analytics Solutions startup Motivo raises $12 Million

Motivo, a California-based developer of AI-enabled chip design and data analytics solutions, has now secured $12 million in a Series A funding round.

Bharath Rangarajan, CEO of Motivo, said, "The Motivo team has combined decades of expertise in IC design, computational imaging and manufacturing technologies, and artificial intelligence to create solutions that reduce design time to market and accelerate yield ramps for new chips. Our customers are faced with increasing challenges as they create their new designs, and the demand for our solutions is so much that we have had to turn away multiple business opportunities. This new investment and support will enable us to rapidly scale up and implement Motivo’s solutions more broadly, deliver value to our customers, and significantly grow our business."

Anthony Lin, Head of Intel Capital, said, "Semiconductors power the data economy. The Motivo team has created solutions that can dramatically shorten the design cycle and optimize manufacturing process yields, which in turn has the potential to unlock and accelerate innovation across the technology sector."

Intel Capital backed the latest funding round. Other participating investors include Seraph Group and Storm Ventures, as well as participation from Inventus Capital.

The company, as of now, has plans to use the new funds to scale the business and double the team within the coming twelve months.