DEEPXhas secured KRW 108.5 billion (~USD 80 million) in a Series C funding round led by SkyLake Equity Partners, with participation from BNW Investments, AJU IB, and Timefolio Asset Management.

The funds will be used for mass production of DEEPX’s debut products, DX-V1, DX-V3, DX-M1, and DX-H1, which are scheduled for global distribution in late 2024. Additionally, the funds will accelerate the development and launch of its next-gen on-device LLM solutions.

DeepX is a global technology company specializing in developing AI solutions for Edge devices. It focuses on creating low-power, high-performance AI semiconductor technology tailored for efficient deployment on these devices.

Analyst QuickTake: This financing round occurred shortly after the company introduced its DEEPX products in February 2024 . These are ultra-low-power AI chips designed for various market requirements. Some chips are tailored for minor data processing tasks, while others are more suitable for AI-intensive uses, such as robotics and autonomous vehicles. Additionally, this USD 80 million funding round has increased the company's valuation to USD 529 million as of May 2024.