Altair Semiconductor today announced the successful completion of its transition to an independent company, following a strategic spinoff from Sony Semiconductor Solutions Corporation. The transaction, led by Pitango Group, secured $50 million in initial funding. Sony will remain a shareholder, demonstrating continued confidence in Altair’s market leadership and long-term vision for connectivity powering the Physical AI transformation.
The transition will enable Altair to operate with greater agility and focus on IoT and Physical AI, while maintaining technological superiority and customer commitments. Altair’s chipsets power the largest share of the world’s cellular smart meters and are leading the LTE-M market in smart cities, energy grids, logistics, vehicle asset trackers, and sports wearables. Altair’s technology is essential to the Physical AI revolution, seamlessly connecting the physical world: machines and robots to the cloud and between themselves anywhere across the globe, and connecting AI-powered wearables and next-generation consumer devices that require ultra-low power, continuous connectivity.
“This is an exciting new chapter for Altair. As an independent company, we can move faster and respond more flexibly to rapidly changing market dynamics. We are fully committed to leading the industry’s transition from 4G to 5G IoT.” said Nohik Semel, CEO of Altair Semiconductor.
Altair recently outlined its vision for 5G eRedCap as the foundation for next-generation IoT, with the ALT1550 modem currently in advanced silicon testing. The company’s roadmap reflects its commitment to delivering cost-efficient, power-efficient solutions built for a 20-year device lifespan.
“Sony believes in Altair’s technology leadership and its critical role in the IoT ecosystem. Our continued support reflects our confidence in the team and their ability to deliver innovative connectivity solutions for the global market. Operating as a standalone company will drive innovation and enable faster execution.” said Antonio Avitabile, Managing Director, Corporate Alliances, Sony Semiconductor Solutions Europe, at Sony Group.
“We have known the Altair team for many years and are excited to partner with them at this pivotal moment where every physical device needs to be connected to enable the Physical AI transformation. The current financing round will solidify Altair’s leadership position in IoT and accelerate even further the transition towards 5G eRedCap, riding the wave of Physical AI.” said Eyal Niv, Managing Partner at Pitango.
Altair Semiconductor will continue to support and expand its existing customer base, ensuring a seamless transition for partners worldwide.
To learn more, visit www.altairsemi.com.