Syntiant raises $55M to bring AI to any battery-powered device
The second half of March has seen significant developments in the edge artificial intelligence (AI) industry with Syntiant announcing a US$55 million investment.
The investment in Syntiant, led by partner Renesas Electronics Corporation, Millennium Technology Value Partners, and Mirae Asset Capital, will aid the company in continuing its work to develop edge AI for always-on, voice, sensor, audio, and image devices, some of which offer biometric capabilities.
“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,” comments Syntiant CEO Kurt Busch.
The executive confirmed Syntiant will use the funds to enhance its software capabilities, and accelerate deployment of the third-generation Syntiant Core 3 architecture, which the firm plans to release at some point in 2023.
“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,” Busch adds.