NRF invests $10.1m in Syenta to boost semiconductor performance
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The news: The National Reconstruction Fund Corporation (NRFC) has invested $10.1 million in early-stage semiconductor company Syenta to develop technologies that enhance data transmission speeds and improve semiconductor performance.
The context: NRFC stated that the funding will be used to procure Syenta’s specialised machinery and establish early production capacity in Australia, as well as to set up a US-based customer engagement and technology team.
The NRFC equity investment is part of a USD26million ($36 million) Series A funding round led by US deep tech investor Playground Ventures, with participation from existing investors including Blackbird VC, Investible, In-Q-Tel and Jelix VC.
Sydney-based Syenta’s proprietary Localised Electrochemical Manufacturing (LEM) enables semiconductor chiplets to be ‘packaged’ onto a single chip and creates denser connections between them. According to the NRFC, this process cuts the number of manufacturing steps by 40%.
What they 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,” NRFC CIO Mary Manning said.
“Syenta’s technology also has the potential to generate less waste and use significantly less energy than conventional semiconductor manufacturing processes, and NRFC investment will enable Syenta to embed low-carbon and circular practices in its technology as it scales,” she added.
The source: NRFC media release
