South Korean AI firm DEEPX raised $80.5 M Series C funding from SkyLake Equity Partners
The $80.5 million Series C funding round for artificial intelligence (AI) semiconductor technology startup DEEPX was successfully concluded.
DEEPX said in a statement on Thursday that this major financial investment, led by prestigious private equity firms, will hasten the development and launch of its next-generation LLM on-device solutions as well as the mass production of its first product line for international distribution.
In addition to current stakeholder TimeFolio Asset Management, the round was led by SkyLake Equity Partners and included participation from BNW Investments and AJU IB.
The statement highlights DEEPX’s technological capabilities and potential for future profitability, highlighting the funding round that primarily comes from new private equity stakeholders.
Along with showing a strong market confidence in DEEPX’s disruptive potential, it also shows a surge in valuation, up over eight times since the previous round.
DEEPX was established with the goal of creating the foundational technology for high-performance AI semiconductors and computing solutions that will enable artificial intelligence to permeate all electronic devices in the future, when it is believed to be just as commonplace as electricity and Wi-Fi.
AI semiconductors from the company are optimized for a range of AI applications, increasing the energy efficiency of AI devices and enabling effective AI operations.
Customers that DEEPX is currently working with include Jahwa Electronics, POSCO DX, and Hyundai Kia Motors Robotics Lab. These companies joined forces earlier this year to work on mass production development.
With a focus on the US, China, and Taiwan region, the brand is actively conducting global promotions while also extending its cooperation with over 100 global companies in the fields of smart cameras, control and security systems, robots, AI medical devices, and AI servers.
Physical security, robotics, smart mobility, and artificial intelligence are just a few of the industries in which DEEPX specializes in providing unique on-device AI semiconductor and computing solutions. The portfolio includes 259 patents.
In order to facilitate large-scale mass production, which is slated to start later this year, the company is broadening its global reach and entering into distributor agreements across the globe.
In order to support large-scale production and customise solutions to meet particular industry needs, DEEPX is also collaborating with more than 20 independent design houses in the US, Taiwan, Korea, and Mainland China.
