AI Chipmaker DeepX’s Valuation Vaults Up in SkyLake-Led Funding
- Promising South Korean chip startup’s value rises eight-fold
- DeepX is developing tech for on-device artificial intelligence
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AI chip designer DeepX Co. raised 110 billion won ($80 million) in a funding round that multiplied its valuation and was led by the private equity firm of a Samsung Electronics Co. veteran known as a semiconductor pioneer.
The young South Korean firm’s valuation grew more than eight-fold to more than 700 billion won in the latest round, with Seoul-based SkyLake Equity Partners becoming its second-largest shareholder, DeepX said on Friday. SkyLake founder Chin Dae-je is known in the country as Mr. Semiconductor, for the work he did spearheading Samsung’s rise as one of the world’s top memory chipmakers during his long tenure at the firm. He also served as Korea’s minister of information and communication.