Dresden's Sparxity, formerly SpiNNcloud, reaches $90 million total funding with Lockheed Martin and GlobalFoundries backing

Nov 10, 2026
Sparxity closed a Series A led by ICM HPQC Fund for chips built for sparse AI workloads, and has a letter of intent with Deutsche Telekom.

Sparxity has closed a Series A round that brings its total funding to $90 million, according to Tech Funding News. ICM HPQC Fund led the financing, with participation from Lockheed Martin Ventures, GlobalFoundries, GS Futures, Cloudberry Ventures, TGFS and the European Innovation Council Fund.

Formerly known as SpiNNcloud, the Dresden company makes chips for sparse AI workloads. Its systems skip calculations that are not needed when models activate only a small share of their parameters.

Sparxity will use the funding to launch its second product, complete a new chip tapeout and expand production for existing orders. Sparxity says it has completed three chip designs, made over 70,000 chips, has 12 racks in place and has signed over 30 customers. It has also signed a letter of intent with Deutsche Telekom, with a first deployment due in 2028.

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