Observed Signal · May 10, 2024 · Funding · Source: Trending Topics · Impact: 3/5 · Sentiment: Positive
DEEPX Raises $80.5M Series C for AI Chips
South Korean AI chip startup DEEPX has raised $80.5 million in a Series C funding round led by SkyLake Equity Partners, reaching a valuation of $529 million — more than eight times its Series B valuation in 2021. Founded by CEO Lokwon Kim, DEEPX plans to use the funds to accelerate mass production of its first AI chip lineup (DX-V1, DX-V3, DX-M1, DX-H1) for global distribution by late 2024, and to advance next-generation on-device LLM solutions. The company has no customers yet but is collaborating with over 100 interested parties and strategic partners. Additional investors include BNW Investments, AJU IB, and Timefolio Asset Management. The Edge AI market is projected to reach $107.47 billion by 2029.
Significant Series C funding for an AI chip startup, indicating strong momentum in edge/on-device AI infrastructure that underpins future AI-driven advertising and marketing technologies.
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Key Takeaways & Evidence Grounding
- DEEPX raised $80.5 million in Series C funding, equivalent to approximately 110 billion KRW.
- The round was led by SkyLake Equity Partners, with participation from BNW Investments, AJU IB, and Timefolio Asset Management.
- DEEPX's post-funding valuation is $529 million, more than eight times its 2021 Series B valuation.
- The company plans to begin mass production of its DX-V1, DX-V3, DX-M1, and DX-H1 AI chips for global distribution by end of 2024.
- DEEPX was founded in 2018 by CEO Lokwon Kim, who previously worked at Apple, Cisco Systems, IBM, and Broadcom.
Connected Companies & Entities
4 Entities mapped“CEO Lokwon Kim previously worked at Apple....”
“CEO Lokwon Kim previously worked at Cisco Systems....”
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“CEO Lokwon Kim previously worked at Broadcom....”
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