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SynSense (formerly aiCTX) closes Series A Round and announces the opening of offices in China
May 6, 2020 -- SynSense (formerly aiCTX), the Zurich-based neuromorphic computing pioneer, has closed a Series A fundraising and will expand its footprint to China.
Led by CTC Capital, the latest round included co-investment from several strategic partners, including M Ventures, Ecovacs, and Yunding; and several financial investors, including CAS-Star and Archer Investment. Jade River Capital provides the financial advisory. The funds will fuel R&D and business development, accelerating the commercialization of SynSense’s neuromorphic computing technology.
Following the successful investment round, SynSense announced the opening of offices in China, and provided a roadmap to commercialization of their technology in China in 2020. SynSense has built R&D teams in Shanghai and Chengdu to make full use of the talent advantages and market opportunities of China.
“SynSense has been working hard in neuromorphic engineering for many years and has gained expertise. I am very optimistic about the future of neuromorphic computing and firmly believe that SynSense will be the first company to commercialize this technology”, Mr. Biao Zhang (Partner of CTC Capital) commented. “Together with our co-investors, we will support SynSense with resources to further strengthen its superiority in key sectors.”
Dr. Ning Qiao (CEO of SynSense) is confident in the prospects of SynSense’s next generation smart vision sensors in Smart Home and edge computing markets. “The next years will bring the golden age of neuromorphic computing. 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. We will grasp this unique chance to launch our products and seize the market”, said Dr. Ning Qiao.
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