DEEPX secures $80.5m in Series C to boost AI semiconductor production
DEEPX, a leading AI semiconductor technology startup, has successfully completed its Series C funding round, raising a substantial $80.5 million. This funding will propel the mass production of its innovative AI semiconductor products for global distribution and accelerate the development of next-generation on-device Large Language Model (LLM) solutions.
Strategic Investment and Industry Impact:
The Series C round was led by SkyLake Equity Partners and saw significant contributions from BNW Investments and AJU IB, with continued support from existing investor TimeFolio Asset Management. This round marks a significant valuation increase for DEEPX, which has seen its value surge over eight times since the previous funding round, underscoring robust market confidence in its disruptive technologies.
Leadership and Vision:
SkyLake Equity Partners, now the second-largest shareholder in DEEPX, is spearheaded by the esteemed Mr. DaeJe Chin, former Minister of Information and Communication and a pivotal figure in Samsung Electronics’ semiconductor success. His deep industry expertise is expected to drive significant advancements in DEEPX’s strategic initiatives. Additionally, Mr. Jea Wook Kim, Chairman of BNW Investment and another renowned figure with extensive experience at Samsung Electronics, brings critical insights into memory manufacturing processes, further bolstering DEEPX’s market position.
DEEPX raises $80.5 million in Series C, led by industry giants, to expand global AI semiconductor operations and enhance on-device AI solutions.
CEO’s Perspective:
Lokwon Kim, CEO of DEEPX, expressed high regard for the strategic alignment with Mr. Chin, noting, “Mr. DaeJe Chin, who elevated the Korean semiconductor industry to global prominence, is the ideal person to validate DEEPX’s achievements. His investment reaffirms our commitment to establishing DEEPX as a leading AI semiconductor technology pioneer and Korea’s first global AI fabless company.”
Global Expansion and Collaborative Efforts:
DEEPX is set to commence large-scale mass production later this year, supported by distributor agreements worldwide and partnerships with over 20 independent design houses across the US, Korea, Mainland China, and Taiwan Region. The company’s collaborative efforts extend to more than 100 global enterprises, including notable projects with Hyundai Kia Motors Robotics Lab and POSCO DX, demonstrating its readiness to meet diverse industry needs with advanced AI solutions.
Technological Achievements and Recognition:
With a portfolio that includes 259 patents and numerous accolades such as the Silicon 100 recognition by EE Times and multiple CES 2024 innovation awards, DEEPX is at the forefront of the AI semiconductor industry. Its technology enhances the energy efficiency of AI devices and enables more effective AI functionalities across various applications, including smart cameras, security systems, and AI medical devices.
The successful Series C funding round not only provides DEEPX with the necessary capital to expand its product line and develop new technologies but also solidifies its position as a leader in the AI semiconductor sector. With strategic investments and a clear vision, DEEPX is poised to make significant contributions to the global technology landscape, driving innovations that integrate AI into everyday life.