AI Chip Startup DeepX Secures $90 Million in Funding Round

AI Chip Startup DeepX Secures $90 Million in Funding Round

South Korean AI chip startup DeepX Co. is on the verge of closing a substantial funding round, nearing $90 million, aimed at accelerating its production capabilities and fueling its global expansion efforts. This development comes amidst the growing prominence of AI semiconductor startups in Korea, underscoring the significance of chip technology in the burgeoning AI industry.

Notably, Skylake Equity Partners has pledged 60 billion won, with an additional 30 billion won coming from existing investor Timefolio Asset Management. Furthermore, the company is in advanced discussions with another investor to secure an additional 30 billion won by the next month, as per undisclosed sources.

The funding will play a pivotal role in propelling DeepX’s ambitions forward. The company, established in 2018, has been making strides in the AI semiconductor sector, with its products intended for applications beyond data centers. These chips are designed to enhance robotics capabilities and integrate AI into a diverse array of electronic devices.

DeepX’s valuation is set to soar with this latest round of funding, placing it in the mid-700 billion won range. The company’s collaborative efforts with industry giants such as Hyundai Kia Motors Robotics Lab and Posco DX underscore its commitment to scaling up production and bringing its technologies to the market.

In the broader landscape, DeepX is among a promising cohort of AI silicon startups in South Korea, alongside peers like Rebellions, which recently secured a significant funding round of $124 million. These developments signal growing investor interest and confidence in the potential of AI semiconductor ventures.

While representatives from DeepX, Timefolio, and Skylake declined to comment on the matter, the momentum behind DeepX’s fundraising endeavors indicates a bullish outlook for the company’s future trajectory. As it navigates the next phase of its growth journey, DeepX remains focused on driving innovation and harnessing the transformative power of AI technology.

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