Jerusalem-based cloud computing hardware company Teramount said Tuesday it raised $8 million in series A funding. The round was led by Grove Ventures with participation from Amelia Investments and former executive VP of Intel and company Chairman, David (Dadi) Perlmutter, along with additional private investors.
Teramount's photonic-plug for semiconductors enables next-generation cloud computing, AI-related machines, data centers, high-performance computers, 5G, and additional datacom applications, the company said.
The company is co-founded by close friends Hesham Taha and Avi Israel, in a rare example of a Jewish- and Arab-founded tech startup. Taha grew up in an Arab village in the north with no formal schooling, and was the first in his village to acquire a non-teaching academic education, as well as a master’s and doctoral degree.
The new funds will be used to continue the development and commercialization of Termamount’s technology. The company was founded in 2013.
