South Korea’s DeepX, a Pangyo-based AI chip designer, has raised 42 billion won (US$30.2 million) in the first close of its series D round at a valuation of about 3.1 trillion won (US$2.2 billion), according to people familiar with the matter.

The startup received backing from existing investors BNW Investment Co. and DS Asset Management Co. DeepX is in talks to raise more funding in a round targeting as much as 300 billion won (US$210 million) by September, at a post-money valuation of up to 3.5 trillion won (US$2.45 billion), according to the people.

DeepX develops semiconductor architecture tailored for AI tasks outside data centers, where power and cost efficiency matter.

It is targeting robotics and smarter electronics as deployment areas. In April, the company said it had secured more than 30 mass-production contracts from customers across eight countries.

🔗 Source: Bloomberg

Recent DeepX developments