A startup company that specializes in artificial intelligence solutions has received backing from some major players in the tech wold, receiving support from Microsoft, Intel and Amazon.
Syntiant Corp. was founded in 2017 with the aim of developing analog neural networking processors designed for edge computing. Neural networking uses electrically adjustable resistance materials to emulate the function of a neural synapse. An analog neural computing medium is one where a phase change material has the ability to cumulatively respond to multiple input signals.
To further develop its plans, Syntiant Corp. has raised $25 million in Series B funding. With the Series B financing round this applies to companies which have generally advanced their business, resulting in a higher valuation compared with the Series A round.
The additional cash has mostly come from M12, Microsoft Corp.’s venture fund. Other partner investors are the the Amazon Alexa Fund, Applied Ventures, Intel Capital. Furthermore, Motorola Solutions Venture Capital and Robert Bosch Venture Capital. Intel Capital were Series A round funders, inputting financing to the tune of $5.1 million.
With the new round of investment, Smart2Zero reports that Syntiant are expanding their board membership. According to Kurt Busch, CEO of Syntiant: “With participation from existing and new investors, and deeper guidance from our expanded board with the additions of Samir Kumar and Bret Johnsen, we will be able to commercialize Syntiant’s neural network technology for battery-powered devices to truly enable pervasive artificial intelligence.”
Intel in particular has been investing heavily in software, applications and big data service companies, such as Lyncean Technologies Inc., which is working on a compact electron storage ring; and the Chinese firm Espressif Systems Pte. Ltd., which is innovating with Wi-Fi and Bluetooth connectivity for security operations centers.
In further tech news, IBM is to purchase open-source software provider Red Hat, with the intention of becoming the “world’s #1 hybrid cloud provider.” Following the deal, Red Hat will operate as a distinct unit within IBM’s Hybrid Cloud team. A hybrid cloud is one that deploys a mixture of on-premises private-cloud and third-party public-cloud service.
