ANU spin-out Syenta secures $37m in funding to advance next-gen AI chip connectivity

Semiconductor technology company Syenta founded from research at The Australian National University (ANU), has secured major investment to accelerate the commercialisation of its technology that unlocks next-generation AI a system performance.

The Australian Government’s National Reconstruction Fund Corporation (NRFC) and deep tech venture capital firm Playground Global have invested $37 million in Syenta to advance its proprietary technology that addresses one of the biggest bottlenecks in modern computing: the speed at which data moves between semiconductor chips.

The more chips that can be connected and the faster they can communicate, the more powerful the system.

By enabling high-density, chip-to-chip connections, Syenta’s technology delivers micron-scale interconnect with improved bandwidth and manufacturing efficiency, enhancing the performance and scalability of AI systems and quantum computing.

Syenta’s Localised Electrochemical Manufacturing (LEM) technology cuts the number of steps required in semiconductor manufacturing by 40 per cent, making it faster, more efficient and widely accessible, helping to reduce supply chain constraints.

Syenta co-founder and CEO Dr Jekaterina Viktorova said the company’s partnership with the NRFC ensures that all its first-of-a-kind research and development will help advance the semiconductor industry in Australia.

“Our mission is to enable higher performance and more scalable AI systems through our innovative technology for advanced chip packaging that improves the performance of semiconductor chip systems,” she says.

“Having the NRFC on board as an investor means that we will be able to grow the company globally while keeping our roots in Australia.

“Our vision is for Syenta to grow into a pillar of the local manufacturing industry, and we anticipate that our partnership with the NRFC will help us to open the doors we need to help anchor an advanced semiconductor manufacturing sector in Australia.”

Syenta co-founder Professor Luke Connal, from the ANU Research School of Chemistry, said the project exemplified what university research could become.

“This is an amazing example of a commercially driven project that has transitioned from the ANU into a fast-growing company, with genuine commercial interest and huge potential impact in the semiconductor world,” he says.

The NRFC investment will be used to expand Syenta’s patent portfolio, procure specialised machinery and establish early production capacity in Australia, alongside customer proof-of-concept programs and a US-based customer engagement team.

NRFC CIO Dr Mary Manning said the investment was about more than one company.

“Semiconductor chips are strategic assets and investing in Syenta will commercialise doctoral research that came out of ANU, keep Syenta’s valuable intellectual property in Australia and help establish sovereign advanced semiconductor manufacturing capabilities in Australia,” she said.

“Syenta’s world-leading technology is designed to unlock the next generation of AI and quantum computing, and we are proud to be investing in this early-stage Australian technology and manufacturing company.”

For semiconductor companies like top-tier chip designer Advanced Micro Devices (AMD), Syenta’s next-level chip packaging and manufacturing efficiency has come at a critical time, enabling AMD to better meet demand for AI and the complex hardware systems behind it.

AMD Senior Fellow Dr Deepak Kulkarni said: “These systems – often composed of hundreds of chiplets – require continued innovation in packaging architectures to increase interconnect bandwidth while improving energy efficiency.”

The NRFC’s investment forms part of the $37 million Series A round led by Playground Global.

Existing investors in Syenta include Blackbird VC, Investible, In-Q-Tel, SGInnovate, Jelix VC, OIF and Salus VC, bringing the company’s total funding to date to more than $51.1 million.

As part of the investment, Pat Gelsinger, former CEO of Intel and general partner at Playground Global, will join the company’s board of directors.