Korean Semiconductor Industry Titans Back DEEPX In Series C Funding Round

(MENAFN- PR Newswire) SEOUL, South Korea, May 9, 2024 /PRNewswire/ --
DEEPX , a prominent AI Semiconductor technology startup under the leadership of CEO Lokwon Kim, is delighted to announce the successful conclusion of its Series C funding round, amassing $80.5M (KRW 110B). Led by esteemed private equity firms, this significant financial investment will accelerate the mass production of DEEPX's inaugural product line for global distribution and expedite the development and launch of its next-generation LLM on-device solutions. The round was spearheaded by SkyLake Equity Partners with participation from BNW Investments and AJU IB, alongside existing stakeholder TimeFolio Asset Management.

SkyLake Equity Partners, now DEEPX's second-largest shareholder, was founded by the esteemed Mr. DaeJe Chin – a former Minister of Information and Communication, widely recognized as "Mr. Semiconductor." His distinguished tenure at Samsung Electronics, where he pioneered the development of groundbreaking memory semiconductors, brings unparalleled expertise to DEEPX's growth. Additionally, Mr. Jea Wook Kim, Chairman of BNW Investment and another renowned semiconductor expert in Korea, having served as the former President of the Device Solutions Division at Samsung Electronics, contributes extensive industry knowledge from his roles, particularly in revolutionizing memory manufacturing processes.

CEO Lokwon Kim expressed his admiration for Mr. Chin, stating, "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"

This funding round, predominantly from new private equity stakeholders, highlights DEEPX's technological prowess and potential for future profitability. It also demonstrates a valuation surge, increasing over 8 times since the previous round, showcasing strong market confidence in DEEPX's disruptive potential.

DEEPX specializes in original on-device AI semiconductor and computing solutions across multiple sectors, including physical security, robotics, smart mobility, and artificial intelligence. Its portfolio boasts 259 patents, recognition as a Silicon 100 company by EE Times, a VSD Innovator Award Gold Medal, and multiple CES 2024 innovation awards.

The company is expanding its global footprint, establishing distributor agreements worldwide to support large-scale mass production that is scheduled to commence later this year. DEEPX is partnering with over 20 independent design houses in the US, Korea, Mainland China, and Taiwan Region to support large-scale production and tailor solutions to specific industry needs. It is also engaged with over 100 global enterprises for pre-production validation. DEEPX's collaborations include significant projects with major firms such as Hyundai Kia Motors Robotics Lab and POSCO DX.

About DEEPX

Founded in anticipation of an era when artificial intelligence will be as ubiquitous as electricity and Wi-Fi, DEEPX develops the underlying technology for high-performance AI semiconductors and computing solutions that can make all electronic devices intelligent. DEEPX's AI semiconductors are optimized for various AI applications, improving the energy efficiency of AI devices and enabling efficient AI functions. Currently, DEEPX is collaborating with customers such as Hyundai Kia Motors Robotics Lab, POSCO DX, and Jahwa Electronics, which joined forces earlier this year on mass production development. The brand is further expanding cooperation with more than 100 global companies in smart cameras, control and security systems, robots, AI medical devices, and AI servers, and it is actively conducting global promotions centered in the United States, Mainland China, and Taiwan Region.

Media Contact

Ella Lee
PR & Marketing Lead, DEEPX
[email protected]

SOURCE DEEPX

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