Brainchip Holdings Ltd. · ASX:BRN
Brainchip — Investor Presentation (June 2019)
36 slides from Brainchip's investor presentation, Jun 27, 2019
Slide 1: Investor Presentation
INVESTOR PRESENTATION For personal use only 26 June 2019 1
Slide 2: Disclaimer
DISCLAIMER The following notice and disclaimer applies to this investor presentation (“Presentation”) and you are therefore advised to read this carefully before reading or making any other use of this Presentation or any information contained in this Presentation. By accepting this Presentation you
Slide 3: Summary
SUMMARY For personal use only ▪ Socionext Inc. (SNI), headquartered in Shin-Yokohama, Japan, is the combination of the former Fujitsu and Panasonic System-on-Chip businesses Material contract ▪ Socionext is the worlds second largest Application Specific Integrated Circuit (ASIC) design and developme
Slide 4: Socionext Agreement
SOCIONEXT AGREEMENT For personal use only • Socionext Inc. (SNI), headquartered in Shin-Yokohama, Japan, is the combination of the former Fujitsu and Panasonic System-on-Chip (SoC) businesses. According to IHS, Socionext is the world’s second largest Application Specific Integrated Circuit (ASIC) de
Slide 5: Socionext Agreement
SOCIONEXT AGREEMENT For personal use only • Socionext will provide turn-key ASIC services to BrainChip for the Akida product, including intellectual property (IP) blocks for the external interfaces, the CPU Complex for internal control and data pre-processing, place and route of the integrated circu
Slide 6: Business Update
BUSINESS UPDATE For personal use only • Definitive Agreement with Socionext for Akida Development and Manufacturing • Introduction of Akida Network Converter (CNN-to-SNN) • Introduction of the Availability of Akida Intellectual Property for Licensing • Provisional Patent Filing on Akida Inventions •
Slide 7: Outlook
OUTLOOK For personal use only • The signing of a definitive agreement with Socionext is a significant and important milestone for BrainChip • The company’s near-term focus continues to be the development and commercialization of the Akida platform, including both licensing of the IP and the release
Slide 8: Details of the Entitlement Offer
DETAILS OF THE ENTITLEMENT OFFER For personal use only ▪ 1 for 4 pro-rata Accelerated Non-renounceable Entitlement Offer. Offer will comprise: Offer size and • an Accelerated Institutional Entitlement Offer to raise up to $6.7M; and structure • a Retail Entitlement Offer which has the capacity to ra
Slide 9: Funding Terms
FUNDING TERMS Funding terms For personal use only ▪ Anticipated funding of approximately $10.3 million by way of: ‒ Accelerated Institutional portion of 1 for 4 Entitlement Offer Consideration ‒ Convertible Note issue (details below) ▪ The Convertible Note was entered into in order to support the si
Slide 10: Sources and Uses & Capital Structure
SOURCES AND USES & CAPITAL STRUCTURE For personal use only Sources and uses of funding Pro forma capital structure Convertible Employee Entitlement Sources A$M Current Pro-forma(8) Note Options Offer Accelerated Entitlement Offer 6.7M Shares 1,049,883,519 31,561,279(2) - 112,206,281(7) 1,193,651,079
Slide 11: Entitlement Offer Timetable
ENTITLEMENT OFFER TIMETABLE Event Date(1) For personal use only Trading halt Tuesday, 25 June 2019 Announce Material Contract, Capital Raise, Institutional Entitlement Offer opens Wednesday, 26 June 2019 Institutional Offer Closes (including Institutional Offer shortfall allocation) Wednesday, 26 Ju
Slide 12: Akida is Artificial Intelligence
For personal use only AkidaTM is Artificial Intelligence Data Information Knowledge Action 12
Slide 13: Akida is the AI Edge Network
For personal use only AkidaTM is the AI Edge Network Complete AI Network for Edge Applications On-Chip Training and Inference Continuous Learning Low-Power Low-Latency High-Accuracy 13
Slide 14: BrainChip Overview
BRAINCHIP OVERVIEW For personal use only • BrainChip is the leading Artificial Intelligence (AI) Edge Company. • “AI at the Edge” is a high-volume, high-growth market. • Intelligence is provided and analytics are performed at the point of acquiring data rather than data being transferred to a centra
Slide 15: AI Edge Applications
AI EDGE APPLICATIONS For personal use only • Low Power, Low Latency and High Accuracy are critical attributes for AI “Edge” applications in: • Surveillance • Advanced Driver Assistance Systems (ADAS) • Vision Guided Robotics • Drones • Industrial Internet-of-Things (IoT) • Acoustic Analysis • Cybers
Slide 16: Akida is the Edge Network
AKIDA IS THE EDGE NETWORK For personal use only 30 Billion Internet of Things Devices* *Gartner IoT Forecast 16
Slide 17: Advanced Driver Assistance Systems (ADAS)
ADVANCED DRIVER ASSISTANCE SYSTEMS (ADAS) For personal use only Hundreds of Sensors Routed to CPU and GPU Compute in the Trunk • Excessive Power Dissipation and Energy Consumption • High Latency for Bus Interface and Communication 17
Slide 18: Akida Opportunity in ADAS
AKIDA OPPORTUNITY IN ADAS For personal use only Akida Metadata CAMERA LIDAR AKIDA ULTRASONIC CPU/GPU AKIDA AKIDA AKIDA Maintenance Powertrain Braking SENSORS ACTUATORS SENSORS ACTUATORS SENSORS ACTUATORS 18
Slide 19: Akida Industrial Internet of Things
AKIDA INDUSTRIAL INTERNET OF THINGS For personal use only Hundreds of Sensors Routed to the Cloud • Remote Processing for Predictive Maintenance • Increased Latency for Communication 19
Slide 20: Akida at the Edge versus Cloud and Datacenter
AKIDA AT THE EDGE VERSUS CLOUD AND DATACENTER For personal use only Training a Single AI Model can emit as much carbon as five cars in a lifetime 20
Slide 21: Deep Learning Chipset Revenue, World Markets: 2018-2025
Deep Learning Chipset Revenue, World Markets: 2018-2025 ~ 7) < 2 = e $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $- 2018 2019 2020 2021 2022 2023 2024 2025 (Source: Tractica)
Slide 22: Deep Learning Chipset Revenue by Power Consumption
Chart 5.7 Deep Learning Chipset Revenue by Power Consumption, World Markets: 2018-2025 $80,000 = High (>100 W) Medium (5-100 W) $60,000 Low (<5 W) $70,000 $50,000 $40,000 ~~ o £ 2 = a & $30,000 $20,000 $10,000 ; $- 2018 2019 2020 2021 2022 2023 2024 2025 (Source: Tractica)
Slide 23: Deep Learning Chipset Revenue by Market Sector
Chart 5.8 Deep Learning Chipset Revenue by Market Sector, World Markets: 2018-2025 $80,000 = Enterprise /Data Center $70,000 Exige $60,000 $50,000 $40,000 = @ © 2 = a 2 $30,000 $20,000 $10,000 a $- 2018 2019 2020 2021 2022 2023 2024 2025 (Source: Tractica)
Slide 24: BrainChip Akida Technology
BRAINCHIP AKIDA TECHNOLOGY For personal use only • Fully User Re-Configurable Event- Based Spiking Neural Network (SNN) technology. • SNN uses threshold logic in a low- cost standard digital CMOS process with proprietary learning rules. • Up to 1.2M Neurons and 10B Synapses • Multiple Neural Process
Slide 25: Akida Major Advantages
AKIDA MAJOR ADVANTAGES For personal use only • Complete AI Edge Network on a chip • User Re-Configurable Single Chip Solution • On-chip Training and Inference • Unsupervised Learning at the Edge without Training • Ease of Use • Complete Simulation in the Akida Development Environment • Multiple Lear
Slide 26: Akida Product Roadmap
AKIDA PRODUCT ROADMAP For personal use only AKD1000 AKD1000IP AKD2000 AKD1000USB AKD500 AKD2000IP • AKD1000 User Re-Configurable AI Edge Device for OEMs and Module Manufacturers • AKD1000IP User Re-Configurable AI Edge IP for ASIC Integration • AKD1000USB User Re-Configurable USB Dongle for Research
Slide 27: Akida Business Model
AKIDA BUSINESS MODEL For personal use only • Akida Development Environment – Free to Beta Users • Akida Intellectual Property – Direct and Channel Partner Sales Globally • Akida Device – Direct and Channel Partner Sales Globally • Akida Reference Board – Direct Sales to Qualified Users • Akida USB M
Slide 28: Akida Competition
AKIDA COMPETITION For personal use only GyrFalcon 28
Slide 29: BrainChip Team
BRAINCHIP TEAM For personal use only • Headcount 35 • Louis DiNardo – Chief Executive Officer • Peter van der Made – Chief Technology Officer • Anil Mankar – Chief Development Officer • Roger Levinson – Chief Operating Officer • Ken Scarince – VP Finance • Toulouse, France – 15 • Aliso Viejo, Califo
Slide 30: BrainChip Global Presence
BRAINCHIP GLOBAL PRESENCE For personal use only Northern China Northern California Europe Eastern U.S. Southern California Southern China Perth Sydney Existing Locations Anticipated Locations 30
Slide 31: Key Risks
KEY RISKS There are a number of factors, specific to an investment in BrainChip, specific to the Material Contract and of a general nature, which may affect the future operating and financial performance of BrainChip and the industry in which it operates and the outcome of an investment in BrainChip
Slide 32: Key Risks
KEY RISKS 1.8. Reputational damage Issues of a varying nature may arise that would give rise to reputational risk and cause harm to BrainChip’s business dealings and prospects. Failure to address these potential issues appropriately could give rise to For personal use only additional legal risk, sub
Slide 33: Key Risks
KEY RISKS 2.5. Liquidity The Group’s Shares are only listed on the ASX and will not be listed for trading on any other securities exchanges. There can be no guarantee that an active market in the Shares will develop or continue. If an active For personal use only market for the Shares does not devel
Slide 34: International Offer Restrictions
INTERNATIONAL OFFER RESTRICTIONS This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any
Slide 35: International Offer Restrictions
INTERNATIONAL OFFER RESTRICTIONS For personal use only United States This document and any other materials relating to the Entitlement Offer and the Entitlement and Acceptance Form do not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States or to any
Slide 36: Thank You
For personal use only THANK YOU 36
BrainChip Holdings — Investor Presentation (June 2019) on 6ix