SynSense nets nearly $20m and 16 more deal updates from Greater China

Neuromorphic computing solutions specialist SynSense has garnered nearly 200 million yuan ($30 million) in its pre-Series B round of financing co-led by Shanghai Zhangjiang Technology Ventures and Westport Investment. 

New investors in the current round include CETC, China Merchants Bank’s investment vehicle China Merchants Startup, Hong Kong-based Techronics, and Ventech China. Semiconductor-focused CTC Capital and Yachang Investment, both returning investors, made follow-on investments. 

Proceeds from the funding round will be used to accelerate the R&D of neuromorphic chips and to facilitate the commercialisation of AI edge-computing applications. 

Neuromorphic engineering is the use of electronic circuits to mimic the human nervous system. Based on advances in neurotrophic computing hardware developed at the Institute of Neuroinformatics of the University of Zurich and ETH Zurich, Dr. Ning Qiao co-founded SynSense in 2017 in Zurich and relocated its headquarter to Southwest China’s Chengdu city in 2020. 

SynSense is developing a full-stack neuromorphic service for AI edge-computing applications that require ultra-low-power and ultra-low-latency features such as autonomous robots, wearable healthcare systems, security, and IoT applications.

Its early-stage investors also include Baidu Ventures, Germany’s Merck Investment, Casstar, and Hegao Capital. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on September 16 – 17, 2021. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
Jiangsu New Carzone Auto PartsNanjing200 millionDAICAlibaba, Yunlong Capital E-commerce
XtransferShanghai138 millionDD1 Capital Partners -Fintech
IASO BiotherapeuticsNanjing108 millionCCDH BaifuCCB International, Everbridge, Costone Capital, CNCB Capital, Plaisance Capital, GL VenturesHealthTech
DeltaHealthShanghai100 million-Swire Pacific LimitedEight Roads HealthTech
EVPS Ningbo Ningbo46 million-YTI Capital, China Insurance Investment FundCoright Capital, Shanghai Guosheng GroupElectric/Hybrid Vechicles
DataStoryGuangzhou39 millionC+Shunwei Capital, Xiaomi Corporation-Big Data
BEASTERHangzhou30 millionDebutINCE CapitalChina Meridian Capital, Belle InvestmentN/A
SynSenseChengdu30 millionPre-BShanghai Zhangjiang Technology Ventures, Westport InvestmentCETC, China Merchants Startup, Techronics, Ventech China, CTC Capital, Yachang InvestmentAI and Machine Learning
Yiming Cell Beijing30 millionB-Addor Capital, IDG Capital, Huaige Capital, Cowin Capital, Ming BioventuresBiotech
Reforgene MedicineGuangzhou* 15 millionA+YuanBio Venture Capital Sinovation Ventures, Biotrack Capital, China Merchants Securities, Everbright LimitedBiotech
Walthin Xiangtan* 15 millionARiverhead Capital Lotus Lake Capital, China-Inv Co-Harmony Investment Fund ManagementHealthTech
AMIROShenzhen* 15 millionC--Beauty & Hygiene
Tanway TechnologyBeijing15 millionAJoint Capital, Nantong Jiayi Fund Sigma Delta Partners Investment, Hongsheng InvestmentAutonomous Driving
luckyins.comShenzhen3 millionPre-A-Changxing Chenke, Cowin Capital Insuretech
ThingswellHangzhou*1.5 million Angel-Baidu Ventures, Creo CapitalSaas
Electroder Suzhou1.5 millionAngel-Sinovation Ventures' Technology FundElectric/Hybrid Vechicles
Woodman AIShanghai-Pre-A-Panlin CapitalAI and Machine Learning

∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.5 million)” in the given example. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.