AI startup DEEPX raises $80 million Sequence C at $529 million valuation

DEEPX is a South Korean synthetic intelligence (NPU or neural processing unit) startup that produces {hardware} and software program for varied synthetic intelligence purposes in digital units. The corporate introduced this week that it has raised $80 million (108.5 billion received) in a Sequence C spherical at a valuation of $529 million (723 billion received), greater than eight instances its Sequence B funding of about 15 million {dollars}. in 2021.

The Sequence C funding, which brings complete funds raised to roughly $95 million, will probably be used to mass produce the startup’s first merchandise—DX-V1, DX-V3, DX-M1 and DX-H1—in late 2024 for world distribution. The startup can even use the brand new capital to speed up the event and launch of the subsequent era of huge language mannequin (LLM) options on units.

DEEPX was based in 2018 by CEO Lokwon Kim, who beforehand labored at Apple, Cisco Programs, IBM Thomas J. Watson Analysis Heart and Broadcom.

The worldwide edge AI, additionally known as on-device AI market dimension is is projected to succeed in $107.47 billion by 2029.up from $11.98 billion in 2021, in keeping with a current report. “The marketplace for AI on units aside from edge servers requires implementing AI capabilities past servers or the cloud,” Kim instructed TechCrunch. ” [on-device AI market] is increasing with laptop imaginative and prescient capabilities comparable to facial and voice recognition, sensible mobility, robotics, Web of Issues and bodily safety programs.”

Kim mentioned that if its mass manufacturing begins this 12 months, potential clients comparable to end-product producers might commercialize their merchandise utilizing DEEPX AI chips in 2025.

DEEPX, which has about 65 staff, is just not the one firm growing options primarily based on AI chips. Korean outfit competes with Hilowhich obtained a $120 million funding spherical final month; SiMa.ay, which closed at $70 million, additionally in April; And AcceleraBelgian AI chip startup that earned $27 million in 2022.

Kim mentioned his firm’s hallmarks embrace value effectivity, power effectivity and All-in-4 AI Complete Resolution for varied synthetic intelligence purposes. Its All-in-4 AI options embrace: DX-V1 and DX-V3, designed for house equipment imaginative and prescient programs, safety digital camera programs, imaginative and prescient robots and drones; in addition to DX-M1 and DX-H1, that are designed for AI compute items, AI servers, sensible factories and AI amplifier chips. In accordance with Kim, DEEPX at the moment has greater than 259 patents pending in the USA, China and South Korea.

“Nvidia’s GPGPU-based options are probably the most cost-effective for big language mannequin providers comparable to ChatGPT; The whole energy consumed by working GPUs has reached a stage that exceeds {the electrical} power of all the nation,” Kim mentioned. “This collaboration know-how between server-scale AI and huge on-device AI fashions is anticipated to scale back energy consumption and prices in comparison with relying solely on information facilities.”

The startup does not have any purchasers but, however it’s working with greater than 100 potential purchasers and strategic companions comparable to Hyundai Kia Motors’ robotics lab and Korean IT firm POSCO DX to check the capabilities of DEEPX synthetic intelligence chips.

SkyLake Fairness Companions, a South Korean technology-focused personal fairness agency, led the most recent funding with participation from BNW Investments, a Korean personal fairness agency based by the previous president of Samsung Electronics’ Samsung LED and reminiscence chip divisions. AJU IB and former backer Timefolio Asset Administration additionally participated on this spherical.

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