DEEPX raised $80 million in Series C round, valuing the company at $529 million. Funds will be used for mass production of DX-V1, DX-V3, DX-M1, and DX-H1 in late 2024 and developing next-gen on-device solutions.
Global edge AI market projected to reach $107.47 billion by 2029. On-device AI is expanding due to applications like computer vision, robotics, IoT, and security systems, bypassing servers or the cloud.
DEEPX founder Lokwon Kim, with experience at Apple and Cisco, highlights the advantage of potential commercialization by end-product manufacturers using DEEPX's AI chips starting in 2025.
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