The Venture Codex

Participated · Equity · Mar 2022

Syntiant provides purpose-built silicon and an edge-optimized data platform and training pipeline to enable always-on deep learning for voice, sensor, audio and image use cases. Its Neural Decision Processors™ and chip solutions combine deep learning with semiconductor design to produce ultra-low-power, high-performance processors for devices from earbuds and wearables to automobiles and other IoT systems. The company offers an end-to-end stack that includes chips, software and training tools to allow edge devices to hear, speak, see and feel. Syntiant plans to accelerate deployment of its third-generation Syntiant Core 3™ architecture and to enhance its software capabilities. Financially, the company raised $55M in the reported financing and has raised more than $100M since its founding in 2017. Leadership is headed by CEO Kurt Busch. Syntiant develops microwatt-power Neural Decision Processors (NDP100 and NDP101) that run deep learning inference for voice and sensor applications. Its NDPs are designed to extend battery life in edge devices such as smartphones, smart speakers, laptops and earbuds. The company reports it has shipped more than one million units of the NDP100 and NDP101 to customers globally. Syntiant positions its technology to deliver high performance at very low power and low cost for improved AI voice‑activation. Financially, the company completed a $35 million Series C to support continued development and growth. Investors named in the round include Sunstone Venture Capital Fund, Seraph Group, Microsoft and Applied Materials. Sunstone, based in Long Beach, previously invested in Syntiant’s Series A and B rounds and participated in this Series C. Syntiant develops analog neural-network semiconductors that enable on-device machine learning for always-on voice, sensor and image tasks in battery-powered devices such as smartphones, watches and speakers. The company combines innovations in deep learning and semiconductor design to expand AI capabilities at the edge with very low power consumption. Syntiant says it will commercialize its neural network technology for battery-powered devices and has expanded its board with the additions of Samir Kumar and Bret Johnsen to deepen guidance. Financially, Syntiant completed a $25 million Series B equity raise that included strategic technology and industrial investors. Participants in the Series B included Sunstone Venture Capital Fund, Seraph Group, Microsoft, Intel, Amazon, Robert Bosch, Applied Materials and Motorola. Sunstone had also participated in Syntiant’s Series A less than a year earlier and credited the company’s rapid advancement with increasing the value of its investment. Syntiant develops analog neural-network semiconductors called Neural Decision Processors (NDPs) that perform neural computation locally on edge devices. Its technology seeks to eliminate data-movement penalties to enable faster, lower-power ML inference than traditional CPU, GPU and DSP options. The NDPs use custom analog neural networks optimized at the transistor level to run deep-learning functions. The chips are positioned for voice, sensor and video applications across mobile phones, wearables, smart sensors and drones. Led by CEO Kurt Busch, the company says it will use new funding to further develop and commercialize its technology. The company is based in Irvine, CA.

Participated · Equity · Apr 2021

Plus develops self-driving truck technology centered on its driver-in autonomous driving solution, PlusDrive. The company is commercializing PlusDrive with truckmakers and fleet partners, including a jointly developed automated truck with FAW and pilots with large fleets such as SF Express. Plus is in the final stages of certifying PlusDrive for commercial operation in China and plans to start mass production of the PlusDrive-powered automated truck this summer. The additional funding will enable Plus to expand global operations and commercial deployment across the U.S., China, Europe, and other parts of Asia. Plus says its technology delivers safety, efficiency, comfort, and sustainability benefits to truck makers and fleets. Financially, Plus announced a new $220 million funding round that is described as an extension of a $200 million round announced last month. Plus builds a full‑stack automated driving system for heavy trucks and works with truck manufacturers, shippers, and fleet operators to deploy that system at scale. The company says mass production of its automated trucks will begin in 2021 and it has more than 10,000 pre-orders. Plus plans to use recent funding to accelerate global commercialization, scale deployments in the U.S. and China, expand into Europe and other parts of Asia, and build a sales and support network to help fleets integrate its system. It also intends to grow its engineering team to continue developing its autonomous driving technology. Plus has completed pilots with major logistics providers, completed a cross‑country commercial freight run with Land O’Lakes, and entered a joint venture with FAW to be an exclusive autonomous trucking technology provider. The company was founded in 2016 and is headquartered in Cupertino, California.

Led · Seed · May 2020

Ziva Dynamics develops a physics-embedded character authoring tool and real-time digital character engine that simulates muscles, fat and skin for lifelike CG characters. Its technology brings soft-tissue simulation and machine learning to character creation, enabling artists to produce dynamic, film-quality characters more rapidly. The platform has been used by over 100 studios on projects such as Game of Thrones, The Meg and Captain Marvel, and the company says it serves AAA game studios and Fortune 500 clients. Founded in 2015 and based in Vancouver, the company is led by co-founders James Jacobs (an Academy Award winner) and Jernej Barbic (USC associate professor). Ziva plans public releases later this year for its open architecture (ZOA) and real-time platforms to bridge offline film-quality characters with real-time game environments. The company recently closed a $7 million seed round to accelerate hiring, productization, sales and marketing, and to double R&D spend.

Participated · Series A · Apr 2020

Phantom AI provides a comprehensive autonomous driving platform that includes computer vision, sensor fusion and control capabilities. The company was founded in 2017 by Hyunggi Cho and Chan Kyu Lee and is based in Mountain View, CA. Phantom plans to use the new funding to accelerate series production development with major OEMs. The startup has raised a total of $80.2M since its founding. Its product focus is on moving autonomous-driving technology into production through partnerships with automakers. Phantom AI develops a vehicle-agnostic autonomous driving platform featuring computer vision, sensor fusion and control capabilities delivered through a modular, software-based vehicle stack. OEMs and Tier 1 suppliers can select and customize components of the stack for high flexibility. The company was founded in 2016 by lead engineers from Tesla’s and Hyundai’s ADAS teams and is led by CEO Hyunggi Cho. Phantom AI works with several automakers, a truck OEM and multiple European and Asian tier 1 suppliers. The company raised $22m in a Series A round, bringing total capital raised to date to $27m. It plans to use the funds to accelerate product development and to scale operations in Europe and Asia.

Participated · Equity · Dec 2019

PrecisionHawk provides drone hardware, software, and services to enterprise customers, with a core software product called PrecisionAnalytics that applies AI/ML to aerial data. PrecisionAnalytics helps enterprises turn drone-collected data into actionable insights for asset management and operational decision-making. The company serves Fortune 500 clients across agriculture, energy, and telecommunications, including five of the top 10 utility companies, the largest U.S. communications infrastructure provider, and the Big Six seed and agricultural chemical firms. Common use cases include asset inventory, inspecting telecommunications towers and electricity distribution lines, and measuring crop health. PrecisionHawk says it will use new financing to continue innovating its software, accelerate sales initiatives, and expand into additional markets, positioning the business for sustained profitability and growth. Founded in 2010 and headquartered in Raleigh, N.C., the company has been active in policy and technology development for commercial drone adoption, and CEO Michael Chasen serves as Chairman of the FAA's Drone Advisory Committee. To date PrecisionHawk has raised more than $130 million from venture and strategic investors. PrecisionHawk provides drone technology and software to help enterprises integrate drone data into their business insight capture processes. The company serves Fortune 500 companies and market leaders in 150 countries across industries including agriculture, energy, insurance, government and construction. Led by CEO Michael Chasen, PrecisionHawk was founded in 2010 and is headquartered in Raleigh, NC. The company has raised more than $100M in total funding to date. PrecisionHawk will use the new capital to expand its team, focus on product innovation and pursue strategic acquisitions. The article does not disclose revenue or user metrics. PrecisionHawk began as a maker of Lancaster fixed-wing drones for farmers and has shifted focus to a cloud platform for aerial data services. Its DataMapper service lets users upload, store, manage and analyze drone-gathered data; a freemium tier exists and a premium “platinum” account costs $95/month for up to 750 GB. The company is developing LATAS (Low Altitude Traffic and Airspace Safety) to help drone operators get clearance, track and verify flights and report paths to the FAA. PrecisionHawk is testing LATAS with partners including the U.S. FAA, NASA and private companies such as Verizon, DigitalGlobe and Harris. With a recent $18M Series C, the company plans to expand beyond agriculture into oil & gas, mining, insurance, search and rescue, forestry and telecommunications. CEO Bob Young says the fastest-growing part of the business is the aerial data services platform rather than selling aircraft. PrecisionHawk builds drones outfitted with sensors and cameras and provides analytics and reporting tools for land surveys. The company offers about a dozen sensor options that customers can select or add themselves, and it collects and stores survey data for subsequent analysis. Customers are notified when survey reports are ready, and PrecisionHawk plans to launch a DataMapper dashboard to let users work with, manipulate, share and run algorithms on their survey data. The company intends to use new funding to expand operations and double its team. PrecisionHawk is also working to expand into new use cases including oil and gas and emergency response.