*NEWS: Chip Startup Raises $25 Million
A tech startup that developed a new generation of chips using machine learning, a subset of AI, raised $25 million, according to news reports.
Syntiant, with HQ in Irvine, received investments from the likes of Microsoft’s VC M12, which led the Series B round. Other backers included Amazon’s Alexa Fund, a $200 million investment reservoir, established in 2015 by Amazon.com; Applied Ventures, the VC arm of Applied Materials; Intel Capital, the VC arm of the granddaddy of the chipmakers, Intel Corp; Motorola Solutions Venture Capital, the VC arm of Motorola Solutions; and Robert Bosch Venture Capital GmbH, the VC arm of Bosch Group, an international conglomerate, (with HQ in Germany), with annual revenue exceeding $85 billion.
Machine learning uses statistical techniques to give computer systems the ability to “learn” (i.e. progressively improve performance on a specific task) from data, without being explicitly programmed.
Kurt Busch is the CEO of Syntiant.