Roviero, a Silicon Valley artificial intelligence startup, today announced that it has received $6.6M in Series Seed funding to build a disruptive and industry-first Native Graph AI Processor. The new processor addresses the burgeoning edge AI compute market and enables hyper-efficient, ultra-low power and super-high-performance compute, ideally suited for edge applications. The financing was led by prominent Silicon Valley-based investor Great Point Ventures along with Monta Vista Capital and Dolby Family Ventures. (PR Newswire)
One factor we are sure of is the Company was incorporated in 2017; therefore, if you are a stockholder you could qualify for 100% in tax savings. Check out a few other details we have already hashed out for you below:
Corporation: Roviero, Inc.
Description: Roviero has developed the world’s first Native Graph AI Processor. The Company is developing hardware and software products that can enable a new age of edge based intelligent devices.
Incorporation Date: Incorporated in December July 28, 2017 as a C Corporation, which is a qualified legal entity for QSBS
Latest Financing Rounds (date, type, etc.): The Company’s highest reported raise was on February 25, 2021, for an oversubscribed $6.6 million Series Seed round. All stockholders who received shares from the Company or through a VC fund could be eligible for QSBS.
QSBS Potential: The Company is a developer of hardware and software AI products, which is a qualified QSBS industry. The Company was founded after 2010; therefore employees and early investors could qualify for the 100% QSBS exclusion. The Company has not gone over the $50 million asset test. There is a strong likelihood that any stock issued in 2017 or later could qualify for QSBS, assuming no redemptions and the Company meets the active test.
If you obtained shares in 2017 or later, please contact us to evaluate your potential QSBS eligibility.
This article does not constitute legal or tax advice. Please consult with your legal or tax advisor with respect to your particular circumstance.