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Funding
DEEPX raises USD 80 million for AI chip manufacturing and development of on-device LLM solutions
Generative AI Infrastructure
May 9, 2024
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Generative AI Infrastructure

Generative AI Infrastructure

May 9, 2024

DEEPX raises USD 80 million for AI chip manufacturing and development of on-device LLM solutions

Funding

  • 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.

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