Renesas Electronics, Millennium Technology Value Partners and Mirae Asset Capital are among five new investors. Existing investors also participated in the raise.
“We are at a pivotal point of our company’s growth and development, having shipped more than 20 million of our Neural Decision Processors as global market demand for edge AI rises among device manufacturers,” said Kurt Busch, CEO at Syntiant.
“We have built a strong customer pipeline that represents the leading suppliers, from earbuds to automobiles and most everything in between. This new round of funding will help us expedite full production deployments among more than 50 current customer engagements, as our technology continues to make edge AI accessible to any battery-powered device.”
In July last year, Syntiant and Renesas announced a collaboration for a voice-controlled multimodal solution with Renesas’ RZ/V Series MPUs and Syntiant’s NDP120 Neural Decision Processor (NDP) that enables low-power contactless operation for image processing in vision AI-based IoT and edge systems.
“Our investment in Syntiant further demonstrates the synergies between our companies as we work together to deliver combined edge AI solutions to customers globally,” said Sailesh Chittipeddi, EVP, GM of IoT and Infrastructure Business Unit at Renesas. “By leveraging Syntiant’s leadership position in deep learning edge compute, our collaborations are enhancing user experiences through advanced AI-based voice and vision processing solutions across many use cases, such as security systems, personal devices, industrial and manufacturing, transportation and logistics.”
The new funds will be used for enhancing software capabilities, as well as accelerating deployment of the company’s third-generation Syntiant Core 3 architecture, which Syntiant expects to introduce in 2023.
