• Syntiant, an edge AI solutions provider, raised USD 55 million in new funding from new investors including Renesas Electronics Corporation, Millennium Technology Value Partners, and Mirae Asset Capital as well as existing investors. This round brings the company’s total funding to over USD 100 million.

• The funds will be used in enhancing software capabilities and accelerating deployment of the company’s third-generation Syntiant Core 3 architecture (which is expected to launch in 2023).

<ul><li> Analyst QuickTake: A number of edge AI processing companies have raised funding within the past year such as Quadric ( USD 21 million two weeks ago), Kneron (USD 25 million last December), and Blaize ( USD 71 million last July). Syntiant is similarly funded when compared with peers Blaize (which has raised USD 136 million) and Kneron (which has raised USD 115 million) and thereby aims to differentiate itself with its NDPs, which it claims typically offer more than 100x efficiency improvement while providing a greater than 10x increase in throughput.</ul>