Panmnesia raises $57 mn in Series A funding

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Panmnesia raises $57 mn in Series A funding - Korea Economic Daily

Quick Summary:

Panmnesia, a South Korean fabless startup specializing in compute express link (CXL) technology, said on Tuesday it raised 80 billion won ($57 million) in Series A funding, valuing the company at over 340 billion won ($244 million) including potential equity.

Founded in 2022 by Jeong Myung-soo, a professor at the Korea Advanced Institute of Science and Technology (KAIST), Panmnesia has raised 100 billion won ($75 million) in total funding, including government grants, in just two years.

The round was led by 15 VCs, including InterVest, Korea Investment Partners, KB Investment, Woori Venture Partners, BSK Investment, NVester, Murex Partners, Daesung Private Equity and TS Investment.