SynSense secures additional capital from strategic investors

SynSense (formerly aiCTX) is the global leader in ultra-low-power sensory processing hardware and application solutions based, solidifying its position at the forefront of neuromorphic research since its founding in 2017. A few weeks ago, the startup announced the completion of a pre-Series B+ funding round, raising USD 10 million in a round led by Ausvic Capital.

The company recently closed a strategic funding round led by Maxvision and RunWoo, announcing that it raised an unspecified amount in the "tens of millions of RMB," according to the startup's announcement. The funds will be used to accelerate the development of SynSense’s 3D neuromorphic processor DYNAP™-CNN2. The technology allows the company to expand its high-speed vision solutions into autonomous systems, such as drones, robots, and self-driving vehicles.

Maxvision is a smart-technology company based in Shenzhen focusing on biometrics, image analysis, and AI, among other things; RunWoo is a VC firm focusing on digital innovation, including AI, 5G, semiconductor chips, and cloud computing. Since expanding in China in 2020, SynSense has deepened its involvement in the industry and driven the integration of this new technology with real-world edge computing scenarios, creating opportunities for the commercialization of neuromorphic intelligence.

"As a high-tech enterprise dedicated to AI and industry integration, Maxvision has long been focused on cutting-edge AI-related technologies. SynSense's neuromorphic technology is highly valuable in edge computing scenarios because of its ultra-low power consumption and ultra-low latency characteristics," said Lei Qu, Chairman of Maxvision. "By combining SynSense's technology with our overall solutions design, we aim to deliver industry-leading solutions for various intelligent scenarios."

According to Pengyu Lu, founding partner of RunWoo, AI is moving in two main directions: complex solutions in the cloud, requiring high power consumption, and ultra-low power consumption, low-latency applications on the edge. "Low-power sensors and processors are the key to the popularization of AIoT. Spiking neural networks and asynchronous circuits are natural ultra-low power architectures. SynSense has demonstrated global technology leadership and talent reserves in this field, successfully bringing their neuromorphic chips to mass production. We believe SynSense will be a major player in the edge intelligence sector," the expert stated.

SynSense was awarded CHF 10,000 by Venture Kick in 2016. In 2019, the startup was chosen to participate in the Venture Leaders Mobile program.