A manufacturing-focused investment in next-generation semiconductor technology has been announced, with an Australian National University (ANU) spin-out securing $37 million to accelerate commercialisation of its chip connectivity platform.
Semiconductor company Syenta, founded on research from ANU, received backing from the National Reconstruction Fund Corporation (NRFC) and venture capital firm Playground Global, targeting improvements in how data moves between semiconductor chips – an identified constraint in modern computing performance.
According to ANU, Syenta’s technology enables high-density chip-to-chip connections using micron-scale interconnects, improving bandwidth and manufacturing efficiency. The company said this could enhance the performance and scalability of artificial intelligence and quantum computing systems, where faster communication between chips is critical.
Syenta co-founder and chief executive Dr Jekaterina Viktorova said the investment would support the company’s growth while maintaining its Australian base.
“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 said. “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.”
She added that the company aims to contribute to the domestic manufacturing sector. “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,” Dr Viktorova said.
The company’s Localised Electrochemical Manufacturing (LEM) technology is reported to reduce semiconductor manufacturing steps by 40 per cent, which Syenta says could improve efficiency and accessibility while easing supply chain constraints.
Syenta co-founder Professor Luke Connal, from the ANU Research School of Chemistry, said the development highlighted the commercial potential of university research. “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 said.
The NRFC said its investment extends beyond a single company, with a broader focus on national capability. Chief investment officer Dr Mary Manning said: “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.”
“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,” she added.
Industry stakeholders also pointed to the relevance of such developments for chip designers. Dr Deepak Kulkarni, senior fellow at Advanced Micro Devices, said increasing system complexity requires continued innovation. “These systems – often composed of hundreds of chiplets – require continued innovation in packaging architectures to increase interconnect bandwidth while improving energy efficiency,” he said.
The NRFC investment forms part of Syenta’s $37 million Series A funding round led by Playground Global. Existing investors include Blackbird VC, Investible, In-Q-Tel, SGInnovate, Jelix VC, OIF and Salus VC, bringing total funding to more than $51.1 million. As part of the round, Pat Gelsinger will join the company’s board of directors.
