France-based computer microprocessor developer Kalray has increased its latest funding round to €23.6m ($28m) with €10m from investors including Alliance Ventures, the fund formed by carmakers Renault, Nissan and Mitsubishi.
Alliance Ventures was joined by Definvest, the fund formed as a joint venture by French government-owned investment bank BPIfrance and the French Ministry of the Armed Forces, and undisclosed existing backers.
The French state-owned CEA Investissement led the first tranche in June 2017, investing with Safran Corporate Ventures, a subsidiary of aerospace manufacturer Safran, as well as Pengpai, Ace Management, Eurekap, Héléa Financière and Inocap Gestion.
Kalray was spun off from CEA in 2008 to develop intelligent processors for sectors such as smart data centres, autonomous transport, healthcare, unmanned aerial vehicles and robotics. The technology can also facilitate other computing functions like data acceleration and high-speed networking.
The capital will be used to expand Kalray’s engineering team as it prepares to release its third generation of microprocessors later this year. It also plans to strengthen its commercial network internationally.
The company had raised a total of $65m as of June 2017, it said. Its earlier investors include Ace Management, CEA Investissement, Eurekap, Inocap Gestion, Expansinvest, Oseo and Promelys Participants.