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Korean Semiconductor Industry Titans Back DEEPX in Series C Funding Round

Press release
Date
2024.07.03
Author
by deepx
Views
253


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 admired 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 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.

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