South Korean AI chip startup DeepX is gearing up for an initial public offering on the domestic market, with CEO Lokwon Kim signaling openness to a future US listing.
The company, specializing in on-device AI processors, plans to appoint investment banks after closing its ongoing funding round in the first half of this year.
DeepX's Funding Milestone and Investor Backing
DeepX recently secured US$80.5 million in a Series C round led by SkyLake Equity Partners, founded by former Samsung executive DaeJe Chin.
Additional investors included BNW Investments, AJU IB, and existing backer TimeFolio Asset Management, bolstering the firm's path toward IPO readiness.
Founded in 2018, DeepX has evolved from an early-stage AI hardware innovator to a key player partnering with giants like Hyundai Motor and Baidu.
Edge AI Technology and Market Edge
DeepX's chips enable AI computations directly on devices such as drones and robots, bypassing data centers and sidestepping US export curbs on high-end AI semiconductors to China.
This positions DeepX advantageously in the burgeoning edge AI market, particularly for China-bound applications.
The startup has already locked in 27 purchase orders from customers across eight countries and is validating pre-production with over 100 global firms.
Expansion Plans and Industry Impact
Through alliances with more than 20 independent chip design houses in the US, Korea, China, and Taiwan, DeepX is constructing a robust production ecosystem.
Despite a six-month delay in mass production for its next AI accelerator due to Samsung's foundry shifts tied to Tesla, the company remains optimistic about scaling.
A successful IPO could propel South Korea's AI semiconductor ambitions, challenging Nvidia's dominance with efficient, low-power alternatives amid global AI hardware demand.
Looking ahead, DeepX's dual-market strategy underscores the rising global appetite for edge AI solutions driving smarter, autonomous devices.
Alfred Lee
