DEEPX, an emerging leader in AI semiconductor technology, has secured its Series C funding round, raising a notable $80.5 million. The investment, led by SkyLake Equity Partners along with participation from BNW Investments, AJU IB, and previous backer TimeFolio Asset Management, marks a significant milestone for the startup, poised to catalyze the mass production of its innovative product line and spearhead the development of advanced on-device solutions for large language models (LLMs).
The funding initiative was significantly bolstered by the involvement of SkyLake Equity Partners, now the second-largest shareholder in DEEPX. The firm is led by DaeJe Chin, a former Minister of Information and Communication in South Korea, affectionately known in industry circles as ‘Mr. Semiconductor’ due to his pivotal role in developing cutting-edge memory semiconductors at Samsung Electronics. His strategic vision is expected to significantly influence DEEPX’s trajectory in the global market.
Jea Wook Kim, Chairman of BNW Investment and a former President at Samsung Electronics’ Device Solutions Division, also brings a wealth of experience, particularly in memory manufacturing innovations, to further guide DEEPX’s growth.
Lokwon Kim, CEO of DEEPX, expressed his esteem for the expertise brought by the new investors: “Having industry veterans like Mr. Chin and Mr. Kim on board not only validates our technological advancements but also strengthens our resolve to emerge as a frontrunner in the global AI semiconductor arena.”
The latest funding round reflects a significant valuation jump for DEEPX, marking an eightfold increase since its last capital raise. This surge would underscore the market’s confidence in DEEPX’s disruptive technologies and its potential for high profitability.
Distributor Agreements, Patents
DEEPX has carved a niche in developing proprietary AI semiconductor solutions that find applications across diverse sectors such as physical security, robotics, smart mobility, and more. With an impressive portfolio of 259 patents, DEEPX has already made its mark, being recognized as a Silicon 100 company by EE Times, receiving a Gold Medal at the VSD Innovator Awards, and securing multiple accolades at CES 2024.
In addition to its technological achievements, DEEPX is actively expanding its global presence. The company has been forging distributor agreements and partnerships with over 20 independent design houses across the United States, Korea, Mainland China, and the Taiwan Region. These collaborations are geared towards customizing DEEPX’s offerings to meet specific industry requirements and facilitating large-scale production slated to begin later this year.
Moreover, DEEPX has engaged with over 100 multinational corporations for pre-production validation of its products. High-profile collaborations include projects with Hyundai Kia Motors Robotics Lab and POSCO DX, with additional ties to Jahwa Electronics in joint development efforts for mass production.
The company’s strategy also includes aggressive marketing and promotional activities, particularly focused on markets in the United States, Mainland China, and the Taiwan Region. Through these initiatives, DEEPX is not only reinforcing its position in existing markets but also exploring new opportunities in the realms of smart cameras, AI-driven medical devices, robots, and AI servers.
As DEEPX continues to innovate and expand, its leadership in AI semiconductor technology is set to reshape how industries leverage AI for enhanced functionality and efficiency. The support from leading Korean semiconductor authorities and the successful closure of this funding round might signify DEEPX’s readiness to compete on a global stage.
