Florida Institute and Florida Funders Invest in Disruptive Technology, Gigantor Technologies
Florida Funders and the Florida Institute back convolutional neural network technology
TAMPA, FL (November 15, 2021) Florida Funders, recognized as the top VC in the Southeast region by Pitchbook, announced today its investment in Gigantor Technologies, Inc., a company providing patented Neural Network acceleration technology. Florida Funders continues to work closely with the Florida Institute to invest in early-stage innovation companies and support deal flow.
Florida Funders has invested in Gigantor’s $1MM Series Seed convertible note from the Florida Funders’ Fund 2, LLC., supporting Gigantor’s focus on business development including sales, partnerships and onboarding new team members. Also participating in the round was the Florida Institute (Institute for Commercialization of Florida Technology) who partners closely with Florida Funders for their fund management.
Gigantor Technologies, Inc. created GigaMACS, a patented AI technology designed to qualitatively accelerate convolutional and deep neural networks (CNNs/DNNs) without changing the model. GigaMACS can run CNNs 200x faster than existing platforms, has extremely low latency (microseconds vs. milliseconds for other solutions), and potentially combats climate change by consuming at least 90% less energy than other platforms. GigaMACS operates at the input pixel rate, regardless of the model complexity, and provides real-time inference without dropping frames or data, or reducing mathematical precision. Gigantor’s Technology solution is positioned to disrupt the domain of the artificial intelligence movement in computer vision and other sensory input models with massive acceleration of Neural Networks without data loss. Finally, real-time inference for complex models without reducing accuracy is possible.
“The potential opportunities for widespread adoption of this technology is boundless,” says Tom Wallace, Managing Partner at Florida Funders. “Florida is once again proving it is a national contender for producing top tech startups, and Florida Funders is proud to support the founder behind this home-grown company.”
Florida Funders was impressed with Gigantor Technologies’ Co-Founder Don Gaspar CEO and Mark Mathews CTO. Don has a strong engineering background through his experiences as CTO at Yapstone and ImproveNet (HomeAdvisor); he was also an engineering lead at Apple way back. Mark was employee #17 at Microsoft and helped originate MultiPlan (MS Excel); he has a strong history of technical innovation.
“This is an exciting time for Gigantor as we continue to scale,” says Don Gaspar, CEO at Gigantor Technologies. “The opportunity for industries to adopt our technology is nearly unlimited across sectors from auto, defense and aerospace to visual manufacturing inspection, pharmaceutical research, and more. We look forward to having Florida Funders’ support as we expand artificial intelligence acceleration capabilities. We couldn’t have asked for a better partner.”
Further elevating the Sunshine State into the Startup State, this is the 23rd investment (15th Florida-based) into tech startups from the Florida Funders’ Fund 2.
Florida Funders is constantly and actively looking to grow and add investors to their network. They have fully deployed their Fund 1 and are hard at work seeking new investment opportunities. For more information on Florida Funders, please visit floridafunders.com. Keep up with the latest news from Florida Funders on Facebook, Twitter, and LinkedIn.
About Florida Funders, LLC
Recognized as the top VC in the Southeast region by Pitchbook, Florida Funders is a hybrid of a venture capital fund and an angel investor network that discovers, funds, and builds early-stage technology companies in Florida and beyond. In order for Florida to evolve from the Sunshine State to the Startup State, we ensure there is as little friction as possible in the ecosystem, that investors have access to meaningful deal flow, and entrepreneurs have access to a wide range of accredited investors, capital, and experience. Florida Funders educates our community of investors, provides transparency during the funding process, fosters communication across the ecosystem, and empowers the strategic relationships that drive investments. Our team is composed of serial entrepreneurs, venture capitalists, and experienced angel investors singularly focused on uncovering Florida’s next breakout technology companies. To learn more, visit www.floridafunders.com.
About Florida Institute
Formed by the Florida Legislature in 2007, the Institute for Commercialization of Florida Technology supports and funds innovation companies that create clean jobs in new industries driving the global economy. The Institute provides company building services and seed funding through the Florida Technology Seed Capital Fund to promising Florida startups that are developing products that improve and save lives and help companies improve their bottom line. The organization’s investment decisions are guided through a strong partnership with its Private Fund Manager, Florida Funders. The Institute’s economic impact over the last ten years was $2.6 billion, with fiscal revenue impacts of nearly $297 million to federal, state, and local governments.
About Gigantor Technologies, Inc.
Founded in 2020 by Don Gaspar, CEO, and Mark Mathews, CTO, Gigantor Technologies Inc., is changing the Artificial Intelligence market with GigaMACS. The patented technology, GigaMACS, is not like any other standard architectures from von Neumann or Harvard. GigaMACS solves the problems inherent with GPU and TPU based systems. Don Gaspar, the CEO, has a winning reputation within start-up environments and brilliantly poised Gigantor Technologies for insurmountable success. Mark Mathews, the CTO and inventor of GigaMACS, was the 17th employee at MicroSoft and was the originator of MultiPlan, better known today as Excel.
Carve Communications for Florida Funders