Syntiant Corp., a semiconductor and AI computing company, is heading for an initial public offering about a year from now as its annual revenue has reached several hundred million dollars.
The company, founded in 2017, first gained attention for its chips that power Amazon’s virtual assistant Alexa.
Syntiant showcased some of its latest voice-activated and audio products at the giant Consumer Electronics Show (CES) in Las Vegas in early January, including technology for “smart frame” eyeglasses and voice-activated TV remote controls.
“We’re on a nice growth trajectory, both improvements in revenue as well as margin,” co-founder and Chief Executive Kurt Busch told the Business Journal on Jan. 6 while at CES.
“We’re planning an IPO in the early ’27 time frame.”
That keeps Syntiant on track for a goal first announced in 2024.
Busch, a UCI graduate, won the Business Journal’s 2020 Innovator of the Year Award. Syntiant is No. 14 on this year’s list of largest OC semiconductor companies.
A public listing would push Syntiant into the ranks of other leading Orange County semiconductor firms, including Skyworks Solutions (Nasdaq: SWKS) in Irvine and Indie Semiconductor (Nasdaq: INDI) in Aliso Viejo and Broadcom Inc., which has local offices in Irvine (Nasdaq: AVGO).
Hearing Aids to Automobiles
Syntiant’s low-power devices are embedded in products ranging from hearing aids to automobiles, with plenty in-between.
“We have from day one been designed to be a public company,” Busch said. “Most of the management team today have been officers of public companies.
“Largely the company’s in a very good shape to be a public company today.”
Last June, Syntiant hired a new chief financial officer, Ron Shelton, who has managed transactions worth billions of dollars, encompassing multiple IPOs, mergers and acquisitions and debt and equity financings. His background includes being CFO of Navitas Semiconductor Corp., which has a $2.2 billion market cap (Nasdaq: NVTS), and Cirrus Logic Inc., which has a $6.3 billion market cap (Nasdaq: CRUS). He was CFO of Adesto Technologies, which had an enterprise value of $500 million when it was acquired by Dialog Semiconductor in 2020.
While early 2027 is the target date, the timing of going public depends on many factors, especially market conditions.
The rapidly expanding company employs about 1,500, with 37 based in Orange County, according to Business Journal data.
“Syntiant technology is bringing AI to the device and using on-device AI to effectively make their audio experiences better,” says Busch. “People are doubling down on audio and voice as the next generation to interact with.”
Enabling AI to Audio Devices
The low-power technology places the data processing at the user level—called “at the edge”—rather than bouncing to the cloud or a data center, saving valuable time.
“We’re enabling AI in most any kind of an audio device today,” according to Busch.
That includes the smart frame “reference design” technology, which lets manufacturers and eyewear brands bring always-on voice and high-quality audio experience to market.
The AI platform for eyeglasses brings advanced noise suppression to smart frames, enabling clearer calls and hands-free voice in noisy environments, according to Syntiant.
Self-driving cars present another development area, since California law requires that a person outside the car must be able to communicate with the system or the person inside it.
Syntiant’s solution: vibration sensors that turn the surface of an automobile into microphones usable from the outside, while Syntiant technology cleans up the sound.
“Using the Syntiant vibration sensor you turn any surface into a microphone,” according to the CEO. “You need to be able to stand outside the car and bark orders it.”
Glass Break Sensor, Security Cameras
Syntiant’s chips enable smart devices to recognize voices and sounds, such as in the Ring Alarm’s glass break sensor.
The Syntiant chips’ range has been extended for more audio, visual and sensing detection, all while consuming low power.
Last year Syntiant launched a new machine learning-powered vision system for security cameras that enables ultra-fast and precise identification of specific people or objects.
Syntiant’s products can also detect audio-based events including glass breaking, smoke alarms and carbon monoxide alarms; products also detect and process voice-activated commands.
“With more than 100 million purpose-built silicon and ML models deployed, along with billions of MEMS microphones and sensors, Syntiant’s technology is powering edge AI applications for speech, audio, sensor and vision processing worldwide,” the company said in early January.
Smart Frame Tech, Voice-Activated TV Remote Among Debut Items at CES
Syntiant Corp. showcased various new products at CES in Las Vegas in early January, including:
– Low-power voice controlled smart frames: Syntiant’s Smart Frame technology transforms everyday glasses into sleek, intelligent audio devices that can be seamlessly integrated with prescription lenses, progressives or standard frames. Syntiant has lined up customers for its new smart eyeglass frames though shipping had not started as of early January.
– AI-enabled headphones for clear calls and adaptive noise control: Combining high-performance digital microphones, V2S vibration sensors, NDPs and ML models, these open-ear and in-ear solutions deliver advanced active noise cancellation and transparency mode, delivering crystal-clear, stable, immersive talking and listening experiences.
– Voice-controlled TV remote: Syntiant’s voice-controlled TV remote application integrates an acoustic activity detection microphone, NDP and AI models to enable always-on, hands-free operation with wake word detection. The remote supports commands such as “Find my remote” and operates at ultra-low power, demonstrating advanced IoT voice technology in action.
– Vehicle security: Syntiant’s automotive platform integrates ultra-low-power camera monitoring to enhance safety and security in connected and autonomous vehicles. Dash or exterior cameras remain in standby while the system continuously monitors visual cues.
– Automotive listening mode: Syntiant’s vibration sensors allow external vehicle listening with ultimate environmental robustness. Edge AI processing delivers keyword commands and audio event detection and communication for hands-free control and safety requirements such as siren detection and first responder engagement.
