Riyadh, Saudi Arabia, February 8th, 2024: TASARU Mobility Investments (“TASARU”), a PIF company, has signed a binding agreement to invest in Recogni, Inc.
Michael Mueller, CEO of TASARU, said: “This investment opportunity aligns with the Kingdom of Saudi Arabia’s Vision 2030, which moves the Kingdom towards a brighter future through improved efficiencies, new growth and investment opportunities, greater global engagement, and enhanced quality of life for its citizens. Our interest in investing in companies like Recogni is part of that focus and vision, and we are excited to see the cutting-edge solutions that their team will produce in the near future,” he added.
Recogni introduced its first low-power AI compute product, Recogni Scorpio, back in December 2022. Scorpio is the world’s first 1000 TFLOPS (Peta-Op) class inference solution for autonomous mobility. Scorpio’s performance validates Recogni’s vision and ability to break barriers in AI computing with scalable performance generation over generation.
About TASARU Mobility Investments
TASARU Mobility Investments is an independent, government-backed enterprise, wholly owned by PIF, established with a unique mission to enable a thriving Saudi Arabian automotive and mobility ecosystem. TASARU serves as a strategic bridge, acting as the partner of choice, connecting investors to private sector partnerships and government entities, and eliminating barriers for a seamless venture experience in the Kingdom of Saudi Arabia. TASARU plays a pivotal role in nurturing and expanding the Automotive & Mobility ecosystem, championing its growth and development. Founded by PIF, TASARU is deeply committed to injecting growth capital, propelling ambitions, and turning promising opportunities into successful realities.
About Recogni
Recogni develops AI-based inference processing solutions for Generative AI, autonomous driving, and intelligent autonomous platforms. Recogni delivers solutions for high compute, low power, and scalability. The company was founded in 2017 with offices in San Jose, California, and Munich, Germany. Lead investors are GreatPoint Ventures, Celesta Capital, Mayfield, and DNS Capital, as well as notable automotive OEM including BMW iVentures and Toyota Ventures. For more information, visit www.recogni.com
Media Contacts:
Mo’ath Salamah
TASARU Mobility Investments
+966 54 422 0154
moath.salamah@tasaru.com
Angela Simoes
Recogni
415-302-2934
angelasimoes@marketstreetgrp.com
