Your Source for Venture Capital and Private Equity Financings

Massinvestor/VC News Daily

Syntiant Lands $35M in Series C

2020-08-06
IRVINE, CA, Syntiant announced it has completed a $35 million Series C funding round led by M12 and Applied Ventures.
Syntiant, a deep learning tech company providing AI voice and sensor solutions at the edge, today announced that the company has shipped more than 1 million units of its Syntiant NDP100™ and Syntiant NDP101™ microwatt-power Neural Decision Processors™ (NDPs) to customers worldwide.

The company also announced it has completed a $35 million Series C funding round. Microsoft's venture fund M12 and Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., led the financing, and Atlantic Bridge Capital, Alpha Edison and Miramar Digital Ventures joined as new investors in the company.


The Syntiant NDP100™ is 1.8 mm x 1.4 mm and consumes only 140uW when processing.
"It is a tremendous honor to know that some of the world's leading tech investors are supporting our growth stage, as we deliver our deep learning voice solution to customers across the globe," said Kurt Busch, CEO of Syntiant. "We are especially thrilled that production volumes of applications using our neural decision processors are increasing and expect orders to ramp even higher throughout the remainder of 2020, as our NDPs continue to set the standard for always on voice as the new interface."


Syntiant also announced that Michael Stewart, Ph.D., investment director at Applied Ventures, has joined the company's board of directors, and that David Lam, general partner of Atlantic Bridge Capital, will serve as a board observer.


Delivering Customized Voice Experiences at the Edge Now a Reality


Syntiant is enabling customized voice experiences at the edge, across multiple product and use cases, including wake words, command words, speaker identification and event detection, all free from cloud connectivity, ensuring privacy and security.


"Syntiant's class leading power performance is making an ambient fabric of neural network-powered intelligence at the tiny edge a reality," said Samir Kumar, managing director of M12. "We are now seeing Syntiant deliver on its execution strategy, setting new benchmarks that are unprecedented for a young AI chip company with the volume of products already shipped, and new customers coming on board."


The company's highly accurate NDPs have been designed into a wide range of battery-powered edge devices, such as smartphones, smart speakers, laptops and earbuds. Built from the ground up, Syntiant's processors offer approximately 100x the power efficiency and 10x the throughput at half the die size, presenting a solution with the highest performance, lowest power and lowest cost compared to current MCU and DSP solutions.


According to Mike Demler, senior analyst at the independent technology analysis and strategic consultancy, The Linley Group, "There are numerous speech-recognition processors on the market, but the NDP101's innovative architecture sets a new record for low power consumption."


"Syntiant is one of the few edge computing companies to have successfully designed-in their product in high-volume applications," said Anand Kamannavar, global head of Applied Ventures. "We are pleased to co-lead the company's latest funding round and have Dr. Michael Stewart join such a talented board. Applied Ventures looks forward to helping Syntiant grow existing and prospective customers across multiple use categories that can benefit from low-power processing technology for voice and sensor applications. Investments in innovative companies like Syntiant are a key part of Applied Ventures' Materials to Systems TM investment strategy."


According to a recent report published by Meticulous Research, the speech and voice recognition market is expected to reach $26.8 billion by 2025. Syntiant provides a complete solution to run AI voice processing at the device level, combining silicon with data collection and deep learning training of its massively parallel neural network to significantly reduce time to revenue.


"Syntiant is truly leading the edge compute space with its AI chip solution," said David Lam. "I am excited about joining the team and leveraging our firm's successful track record of backing world-class companies in semiconductors and artificial intelligence to support the expansion of Syntiant's disruptive technology as deep learning moves from the cloud to the edge."


About Syntiant

Founded in 2017 and headquartered in Irvine, Calif., Syntiant Corp. is moving artificial intelligence and machine learning from the cloud to edge devices. Syntiant's advanced chip solutions merge deep learning with semiconductor design to produce ultra-low-power, high performance, deep neural network processors for always-on applications in battery-powered devices, such as smartphones, smart speakers, earbuds, hearing aids and laptops. The company is backed by several of the world's leading strategic and financial investors including Intel Capital, Microsoft's M12, Applied Ventures, Robert Bosch Venture Capital, the Amazon Alexa Fund and Atlantic Bridge Capital. Syntiant continues to be recognized as an industry leader, being named to Gartner's April 2020 Cool Vendors in AI Semiconductors; Fast Company's¯prestigious list of the World's Most Innovative Companies for 2020; The Linley Group's 2019 Analysts' Choice Award in the Best Embedded Processor category; CES 2020 Best of Innovation Awards Honoree; and 451 Research's "451 Firestarter" Award. More information on the company can be found by visiting www.syntiant.com or by following Syntiant on Twitter @Syntiantcorp.



About M12

M12, Microsoft's venture fund, invests in enterprise software companies primarily in the Series A through C funding stages with a focus on applied AI, business applications, infrastructure, security, and vanguard technologies. As part of its value-add to portfolio companies, M12 offers unique access to strategic go-to-market resources and relationships globally. M12 has offices in San Francisco, Seattle, London, Tel Aviv, and Bengaluru. https://m12.vc



About Applied Ventures
Applied Ventures, LLC, the venture capital arm of Applied Materials, invests in early-stage technology companies that promise to deliver high growth and exceptional returns. Its investments help develop technologies and markets that provide natural extensions to Applied Materials' core business and stimulate the growth of applications for semiconductors, displays, and related products and services. Learn more at www.appliedventures.com or follow @Applied_VC.



About Atlantic Bridge Capital in Palo Alto, London, Dublin, Munich and Paris.

Atlantic Bridge Capital is a global technology investment firm with over €950 million of assets under management across seven funds, investing in deep tech, growth stage technology companies in Europe and the U.S. The firm has offices and investment teams based in Palo Alto, London, Dublin, Munich, and Paris. Visit http://www.abven.com or follow @atlanticbridgev for more information.
(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about page.
>> Click here for in-depth research on 9,000 startups and 5,000 VC investors