The company was already backed by a Chinese venture capital with $2.7 million from Zhuji Jiawei and Baidu Ventures in 2018 (see Swiss startup launches mega-neuron vision processor ). The company was spun out of the Institute of Neuroinformatics at the University of Zurich in March 2017.
The size of the latest round of funding was not disclosed. It was led by CTC Capital, with co-investment from others including: M Ventures, Ecovacs, and Yunding, CAS-Star and Archer Investment.
SynSense has opened offices in Nanjing and is building R&D teams in Shanghai and Chengdu, all in China.
Having demonstrated its DynappCNN event-driven vision processor SynSense is now developing a series of dedicated event-driven neuromorphic processors for real-time vision processing for always-on IoT devices and edge-computing applications such as gesture recognition, face or object detection, location, tracking and surveillance.
Working with Inivation Neuromorphic Vision Systems, SynSense has developed the Speck single-chip, intelligent neuromorphic vision system for mobile and IoT applications, performing intelligent scene analysis with real-time response.
"Our technology has resonated well with applications in smart homes, robotics and smart surveillance. This fundraising round will help us sharpen our technology and achieve industrial penetration," said Ning Qiao, CEO of SynSense, in a statement.
Biao Zhang, Partner of CTC Capital, commented: "I am very optimistic about the future of neuromorphic computing and firmly believe that SynSense will be the first company to commercialize this technology."
Related links and articles: