Cash helps AXEON expand worldwide presence -

Cash helps AXEON expand worldwide presence

Aberdeen, UK — VindAX processor IP developer, AXEON Semiconductor, has raised £1.8 million to expand its sales operations in the US and Europe.

The VindAX microprocessor is a hardware implementation of a neural network and the company is presently focussing on the automotive market with customer applications such as on board diagnostics (OBD), misfire detection, virtual sensors, electronic valve control systems and adaptive audio controls

Set up in 1998, AXEON's technology uses Learning Algorithms, to speed the development of high performance solutions to complex and uncertain data problems. These Learning Algorithms eliminate the need for complex applications development environments and compiler tools.

The latest financing includes two new institutional investors, Aberdeen Murray Johnstone Private Equity (AMJPE) a division of Aberdeen Asset Management, and 4th Level Ventures, a recently established Irish venture capital fund.

The cash will be used to develop the company's existing offices in Detroit and Frankfurt.

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