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*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.

 

About The Author

Deirdre Newman is a veteran journalist, who's covered OC startups for two-plus years.

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