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Tenstorrent Raises a $100M Strategic Up-round Co-led by Hyundai Motor Group and the Samsung Catalyst Fund

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SANTA CLARA, Calif., Aug. 3, 2023 /PRNewswire/ — Tenstorrent is pleased to announce that it closed a $100M strategic financing up-round led by Hyundai Motor Group and Samsung Catalyst Fund, with participation from Fidelity Ventures, Eclipse Ventures, Epiq Capital, Maverick Capital, and more.
Tenstorrent sells AI processors and licenses AI and RISC-V IP to customers that want to own and customize their silicon. Both Hyundai Motor Group and Samsung have a strong history of product leadership and enjoy massive success in their respective markets. 
“The trust in Tenstorrent shown by Hyundai Motor Group and Samsung Catalyst Fund leading our round is truly humbling,” said Jim Keller, CEO of Tenstorrent. “It has been impressive watching Hyundai Motor Group become the third largest automaker in the world through their aggressive adoption of technology including their acquisition of Boston Dynamics, their joint venture with Aptiv, and now their investment in us.”
“Tenstorrent’s high growth potential and high-performance AI semiconductors will help the Group secure competitive technologies for future mobilities,” said Heung-soo Kim, Executive Vice President and Head of the Global Strategy Office (GSO) at Hyundai Motor Group. “With this investment, the Group expects to develop optimized but differentiated semiconductor technology that will aid future mobilities and strengthen internal capabilities in AI technology development.”
“Samsung has long been a leader in the electronics industry and they are the ideal partner to co-lead this round,” continued Keller. “We are excited by the opportunity to work together.”
“Samsung Catalyst Fund invests in disruptive ideas that we believe can change the world,” said Marco Chisari, EVP of Samsung Electronics, Head of Samsung Semiconductor Innovation Center. “Tenstorrent’s industry-leading technology, executive leadership, and aggressive roadmap motivated us to co-lead this funding round. We are excited by the opportunity to work with Tenstorrent to accelerate AI and compute innovations.”
Funding will be used to accelerate the company’s product development, the design and development of AI chiplets, and its ML software roadmap.  
About Hyundai Motor Group:
Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all.
About Samsung Catalyst Fund:
Samsung Catalyst Fund (SCF) is Samsung Electronics’ evergreen multi-stage venture capital fund that invests in deep-tech infrastructure and data-enabled platforms. SCF’s sectors of interest span multiple domains including datacenter and cloud, artificial intelligence, networking and 5G, automotive, sensors, quantum computing and beyond. SCF aspires to work closely with brilliant entrepreneurs and disruptive ideas, harnessing our global reach to create value and foster mutual growth and benefits. Among the many advantages our founders enjoy are shared resources, financing, networking, corporate development, and mentorship from SCF’s domain experts. 
About Tenstorrent:
Tenstorrent is a next-generation computing company that builds computers for AI. Headquartered in Toronto, Canada, with U.S. offices in Austin, Texas, and Silicon Valley, and global offices in Belgrade, Tokyo, and Bangalore, Tenstorrent brings together experts in the field of computer architecture, ASIC design, advanced systems, and neural network compilers. Tenstorrent is backed by Hyundai Motor Group, Samsung Catalyst Fund, Fidelity Ventures, Eclipse Ventures and Real Ventures, among others.
For more information on Tenstorrent visit www.tenstorrent.com or contact [email protected].
 
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AWAK Transforms into Vivance, Unveiling a New Brand Identity

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SINGAPORE, Oct. 9, 2024 /PRNewswire/ — AWAK Technologies, a pioneer in innovative kidney care is excited to announce its rebranding to Vivance. The name, derived from ‘viva’ and ‘advance’, embodies vitality and progress – hallmarks of the company’s commitment to revolutionizing kidney health.

AWAK Technologies was founded with a groundbreaking idea: the development of a wearable dialysis device, Automated Wearable Artificial Kidney (AWAK). As the company continues its mission to transform kidney care, the portfolio has been expanded with products that aim to enhance patient outcomes and quality of life. To reflect this evolution and commitment to innovation, it has rebranded to Vivance – a name that captures its dynamic and forward-thinking approach in managing kidney health.
Suresha Venkataraya, CEO of Vivance, said, “This rebrand reflects how far we’ve come, and where we’re heading. Building on the foundation of our wearable dialysis device, we’ve made significant strides by expanding our portfolio to include cost-effective home modalities and complementary digital offerings. This rebrand reinforces our ultimate mission of treating patients in the comfort of their homes.”
Abel Ang, Chairman of Vivance, added, “We are excited to introduce Vivance to the world. Building on two breakthrough device designations from the FDA, our rebranding accelerates our mission to revolutionize healthcare. This exciting new chapter for the company will see us take patient-centric dialysis from a dream into reality.”
Looking Ahead
As Vivance, the company will continue to refine its brand strategy, product positioning, and approach to market entry, ensuring a strong and strategic alignment with industry needs. The wearable dialysis device is progressing through clinical trials, while additional innovations, such as point-of-care PD fluid generation system, remote monitoring tools and AI prediction models, are in advanced stages of research and development. These products are poised to enter their clinical phases in the near future, reinforcing Vivance’s mission to drive meaningful disruption in the kidney care sector.
Media Contact:
Priyanka AryaSenior Marketing Manager+65 6950 [email protected] 
About Vivance
Vivance, formerly AWAK Technologies, is a pioneering, patient-centric medical technology company with a mission to enhance the lives of people with kidney disease and their caregivers by providing solutions to deliver better outcomes and improve their quality of life.
Headquartered in Singapore with offices in Los Angeles, United States and Bengaluru, India, the company is dedicated to the research, development and marketing of novel technologies in kidney care. 
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Hyundai Motor Group and Singapore Strengthen Joint Research in Sustainable Energy and Manufacturing Solutions

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Hyundai Motor Group and Nanyang Technological University, Singapore collaborate in the field of hydrogen energy and advanced energy systemThe partnership aims to advance towards carbon neutrality through joint research with world-renowned NTUHMGICS, NTU and A*STAR to establish a tripartite Corporate Lab Program for collaborative research in AI, robotics and 3D printingSINGAPORE and SEOUL, South Korea, Oct. 9, 2024 /PRNewswire/ — Hyundai Motor Group (the Group) has signed a collaborative research agreement with Nanyang Technological University, Singapore (NTU) in the field of new energy at the Singapore-Korea Business Forum, Ritz Carlton Singapore, on October 8. The partnership encompasses a three-year research collaboration, focusing on the hydrogen energy business and advanced energy system.

This collaboration between the Group and NTU, a globally renowned university, aims to develop alternative energy sources to achieve carbon neutrality, leveraging the Group’s advanced energy technologies that are suitable for Singapore’s unique characteristics.
“HMGICS is a global hub for Hyundai Motor Group’s future mobility innovation,” said Hyun Sung Park, Vice President and CEO of Hyundai Motor Group Innovation Center Singapore (HMGICS). “Through this partnership, we aim to accelerate our research in the field of innovative technologies, ultimately enhancing the commercial viability of our sustainable mobility solutions.”
One of the key areas of focus will be studying the adoption of hydrogen production technologies and businesses in Singapore. This includes the implementation of Hyundai Motor Group’s innovative resource-cycle hydrogen production technologies: Plastic-to-Hydrogen (P2H) and Waste-to-Hydrogen (W2H) systems. W2H utilizes organic waste such as food and sewage sludge to produce hydrogen, while P2H utilizes non-recyclable plastic.
In the field of advanced energy system research, the Group and NTU will develop a solution that is well-suited for urban countries like Singapore. The system offers the advantages of easy installation and high safety levels thanks to its modular design, playing a vital role in achieving carbon neutrality in Singapore.
HMGICS also held a joint signing ceremony for the establishment of a tripartite research center with NTU and the Agency for Science, Technology, and Research (A*STAR). The Corporate Lab Program is set to conduct research in innovative manufacturing domains such as AI, robotics and 3D printing.
“The research partnerships between NTU Singapore and Hyundai Motor Group reflect how close collaboration with industry is vital in developing innovative and relevant solutions to address real world issues, including the race to carbon neutrality,” said Professor Lam Khin Yong, Vice President (Industry) of NTU. “We will continue to build on our long-standing partnership with Hyundai Motor Group, leveraging NTU’s core strengths in areas such as sustainable energy, AI, robotics, 3D printing, and advanced materials, to develop innovative and sustainable solutions for Singapore and the global society.”
For more information, please visit: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Media Center (kianewscenter.com), Genesis Newsroom
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High tech specs and adapted World Cup pitch sensors awarded share of £1.5m as finalists in Longitude Prize on Dementia

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AI glasses that help people living with dementia navigate their environment and a smartwatch that learns daily routines to assist in everyday tasks are among five groundbreaking technologies announced as finalists in The Longitude Prize on DementiaThe Longitude Prize on Dementia is a £4.4m prize funded by Alzheimer’s Society and Innovate UK and delivered by Challenge WorksThe prize is driving the creation of AI-based assistive technologies that can help people living with dementia maintain their independence for longerThe five finalists will share £1.5m to develop their solutions in pursuit of the £1m first prize to be awarded in 2026LONDON, Oct. 8, 2024 /PRNewswire/ — State of the art AI glasses to help people with dementia navigate their environment and a smartwatch that learns daily routines are among five groundbreaking technologies awarded £300,000 as a finalist in the £4.4m Longitude Prize on Dementia.

It is rewarding the creation of new assistive technologies that use AI to transform how people live with dementia after a diagnosis so that they can maintain their independence for as long as possible.
The global challenge prize is funded by Alzheimer’s Society and Innovate UK and delivered by Challenge Works (part of Nesta).
One in three people born in the UK today will develop dementia in their lifetime, with around a million people in the UK living with a form of dementia now. This is projected to rise to 1.4 million people by 2040.
The five finalists, who were announced today in the UK on BBC One’s The One Show, will each receive £300,000 to develop their technologies in the next 15 months. The finalists are:
High-tech glasses that help users recognise objects and people – the technology helps people living with dementia to recognise objects and people and remember what to say or do to improve memory recall. This will help them to carry out daily activities independently, such as making a cup of tea or greeting a loved one. The glasses, which also work with existing prescriptions, aim to delay the progression of memory loss and use synaesthesia – associating senses such as sights and sounds (CrossSense, Animorph, UK).Football pitch sensor technology applied to predict and prevent falls – existing ‘fall’ technology can only inform caregivers once an accident has happened, this groundbreaking update will use the technology that maps how a football moves on a pitch (Ultra Wideband) to establish when falls are likely to happen and ultimately prevent them. This tech, worn in the form of a smartwatch designed for older people, could anticipate slips at certain points in a daily routine (e.g. before bed) or in certain locations (e.g. the bathroom). By detecting and calculating fall risk, the tech could limit risk of hospital admission which can speed dementia symptom progression (Theora 360, Clairvoyant Networks, Inc, USA).A smartwatch-based app to provide guidance on daily routines – this AI software processes data from a smartwatch and sensors around the home to learn about its users’ activities and gently guide them on their routines, reminding them of actions they may have forgotten through personalised cues such as illustrations (eg an open fridge or running tap), text, audio and vibrations. If they are not responsive, it will alert a carer. The software will become more intensive as a person’s dementia progresses, helping them to stay in their own home and community for longer (AUTONOMOUS, Associação Fraunhofer Portugal Research, Portugal).At-home monitoring-box that protects privacy – when a loved one is in the early stages of dementia and is still able to live independently, family members can sometimes worry about their wellbeing. This ‘sensor’ box and automated messaging system scans rooms to help remotely inform family members of the loved one’s wellbeing via WhatsApp or text message (e.g. your mum is up and about and the heating came on at the usual time this morning). This provides reassurance for both family member and user, but unlike existing monitoring technology, doesn’t use cameras or wearables, connecting caregivers without infringing on privacy (Supersense Technologies, UK).Home assistance device resembling a traditional telephone – this familiar-looking device offers a screen for video calls which can also display personalised reminders of daily activities. The phone connects users to a reassuring voice-recording of their choice that shares prompts on daily activities and displays images of items in that person’s house. It also makes video-calling loved ones as easy as picking up the phone, to empower people living with dementia to do things they love that bring meaning (MemoryAid, The MARCS Institute, Western Sydney University, Australia).Dr James Brown, CEO of Supersense Technologies said: “A few years ago, I was volunteering with a charity supporting people who had just received a dementia diagnosis. At almost every house we visited there would be a drawer full of unused gadgets – fall-detection watches or pendants, AI speakers – great tech but clearly not being used by the people it was designed for.
“As an engineer and researcher with a decade of experience in developing sensor technology, I knew that there was far better, unintrusive technology that could help people with dementia or mild cognitive impairment to live safely in their own homes for longer, and to help families know that their loved one is safe and well. Our system is specifically designed to maintain a person’s privacy and autonomy, while identifying new behavioural patterns as soon as they develop, so that loved ones or carers can provide support at the right time, all with the aim of helping people to stay independent in their homes for longer.”
Kate Lee, CEO of Alzheimer’s Society said: “Currently, around one million people in the UK live with dementia, a figure projected to rise to 1.4 million by 2040. AI presents exciting opportunities to help those with dementia stay active and independent, enabling them to remain in their own homes for as long as possible. By harnessing the power of technology, we can support memory recall and assist individuals in maintaining their daily routines. The five finalists of the Longitude Prize on Dementia are tackling these challenges in innovative and diverse ways. I look forward to seeing how their technologies evolve over the next year.”
Dr Jennifer Bute was diagnosed with young-onset Alzheimer’s disease in 2009 at the age of 63, leading to her retiring early from her career as a GP. She adds: “Research suggests that remaining independent, whether in your own home or a place where extra help is available, is one of the best contributors to slowing the progression of Alzheimer’s disease. As a daily user of technology to help manage my finances, medications – even my home lighting – it’s really encouraging to see the breadth of new tools and services being developed to support independent living.”
Tris Dyson, Managing Director at Challenge Works said: “The Longitude Prize on Dementia was launched to help meet the urgent need for intuitive, AI technologies that could support independent living for people with dementia. Last year we saw some incredible ideas come through the 24 semi-finalist entries and it was a challenge for the judges to select the five finalists announced today. This announcement proves the critical role innovation, and challenge prizes, have to play in helping to solve some of the biggest challenges of our time.”
Stella Peace, interim Executive Chair, Innovate UK said: “Dementia’s impact is devastating for those who develop the condition and for their loved ones. There is much we can do to ensure that those with dementia continue to live fulfilling lives. Technology has a great role to play and the projects for which we have announced funding today have the potential to truly change lives for the better.”
In addition to the financial reward, non-financial support has been funded to provide innovators with crucial insight and expertise until the end of 2025. The support includes access to potential product users, mentorship, and expert advice on technical and business aspects of the innovation to ensure products are scalable. It will also facilitate knowledge sharing between participants. All teams will be working with people with lived experience to ensure solutions are fully co-created.
In early 2026, one winner will receive a prize pot of £1 million, following a judging process with the international Judging Panel and Lived Experience Advisory Panel. For more information on the finalists and prize, please visit dementia.longitudeprize.org.
 
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