DeepX attracts $80 mn new investment

DeepX, South Korea's homegrown neural network and AI chip developer, announced on Friday that it finalized attracting an investment of 110 billion won ($80 million) on new investments from private equity fund investors.

The latest investment includes participation from the existing shareholder Timefolio Asset Management, Skylake Equity Partners, BNW Investment, Aju IB Investment, and other institutional investors.

Skylake, which has become DeepX's second-largest shareholder, is a domestic institutional investor founded by Chin Dae-je, a former Minister of Information and Communication.

DeepX specializes in AI semiconductors embedded in applications such as physical security, robotics, home appliances, smart mobility, and smart cameras.

The company is currently providing hardware and software to over 100 global companies, undergoing mass production verification, and is gearing up for mass production this year.

Write to Kang-Ho Jang at callme@hankyung.com