DEEPX is a South Korean on-device AI chip (NPU, or neural processing unit) startup that makes {hardware} and software program for varied AI functions in digital units. The corporate introduced this week that it has raised $80 million (KRW 108.5 billion) in a Sequence C spherical at a valuation of $529 million (KRW 723 billion), which has surged greater than eight instances from its Sequence B funding, about $15 million, in 2021.
The Sequence C funding, which brings its whole elevate to round $95 million, will go towards mass manufacturing of the startup’s inaugural merchandise — DX-V1, DX-V3, DX-M1 and DX-H1 — in late 2024 for international distribution. The startup can even use the brand new capital to expedite creating and launching its subsequent technology of huge language mannequin (LLM) on-device options.
DEEPX was based in 2018 by CEO Lokwon Kim, who beforehand labored at Apple, Cisco Programs, the IBM Thomas J. Watson Analysis Middle and Broadcom.
The market dimension of world edge AI, additionally known as on-device AI, is projected to succeed in $107.47 billion by 2029, up from $11.98 billion in 2021, in accordance to a latest report. “The on-device AI market, excluding edge servers, requires AI capabilities to be carried out, bypassing servers or the cloud,” Kim advised TechCrunch. “The [on-device AI market] is increasing attributable to laptop imaginative and prescient capabilities like facial and voice recognition, sensible mobility, robotics, the web of issues and bodily safety programs.”
Kim mentioned that if its mass manufacturing begins this 12 months, potential clients akin to end-product producers will be capable of commercialize their merchandise with DEEPX’s AI chips in 2025.
DEEPX, which has round 65 workers, shouldn’t be the one firm that has developed AI chip options. The Korean outfit competes with Hailo, which landed a $120 million funding spherical final month; SiMa.ai, which closed on $70 million, additionally in April; and Axelera, a Belgium-based AI chip startup that secured $27 million in 2022.
Kim mentioned that his firm’s differentiators embody price effectivity, power consumption effectivity and All-in-4 AI Whole Resolution, a complete resolution for varied AI functions. Its All-in-4 AI options embody: DX-V1 and DX-V3, designed for imaginative and prescient programs in house home equipment, surveillance digital camera programs, robotic imaginative and prescient and drones; in addition to DX-M1 and DX-H1, that are designed for AI computing bins, AI servers, sensible factories and AI booster chips. DEEPX now has greater than 259 patents pending within the U.S., China and South Korea, Kim mentioned.
“Nvidia’s GPGPU-based options are essentially the most cost-effective for giant language mannequin companies like ChatGPT; the entire energy consumed by GPUs working has reached ranges exceed {the electrical} power of a whole nation,” Kim mentioned. “This collaborative operation expertise between server-scale AI and on-device massive AI fashions are anticipated to scale back power consumption and prices loads in comparison with relying solely on information facilities.”
The startup doesn’t have clients but however is collaborating with greater than 100 potential purchasers and strategic companions, akin to Hyundai Kia Motors Robotics Lab and Korean IT firm POSCO DX, to check DEEPX’s AI chip capabilities.
SkyLake Fairness Companions, a South Korea-based technology-focused non-public fairness agency, led the most recent funding, with participation from BNW Investments, a Korean non-public fairness agency based by the previous president of Samsung LED and Samsung Electronics’ reminiscence chip unit. AJU IB and former backer Timefolio Asset Administration additionally participated on this spherical.