DeepX raises US$80.5 million to accelerate AI
AI startup DeepX Co. Ltd. (Seongnam, South Korea) has raised 110 billion won (about US$80.5 million) in a series C round of equity funding.
The company said the money would be used to accelerate the mass production of a first product line and for the development and launch of 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 DaeJe Chin, a former Minister of Information and Communication. Chin previously worked at Samsung Electronics, where he pioneered the development of memory semiconductors.
Lokwon Kim CEO of DeepX, said: “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”
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