Investment from Global Investors To Accelerate DEEPX’s Growth
Beijing, China (March 8, 2023) – DEEPX, a leading developer of artificial intelligence (AI) chips, has announced the successful completion of its Series C funding round, raising $80 million. The investment was led by prominent global investment firms, including GGV Capital, Legend Capital, and Hillhouse Venture Capital. With this latest funding round, DEEPX’s post-money valuation has reached $529 million.
Accelerating DEEPX’s Growth
The Series C funding will primarily fuel DEEPX’s ambitious growth plans. The company will allocate the capital towards:
- Expanding its research and development (R&D) capabilities
- Enhancing its AI chip design and production
- Expanding its global market reach
DEEPX’s AI chips are renowned for their exceptional performance and efficiency in deep learning, natural language processing, and computer vision applications. The company’s proprietary architecture enables it to develop chips that deliver superior performance while consuming less power. This has made DEEPX a preferred supplier for a wide range of industries, including smart retail, smart cities, and autonomous driving.
Strategic Partnerships and Global Expansion
DEEPX has also forged strategic partnerships with leading technology companies to accelerate its global expansion. The company has collaborated with Microsoft, Intel, and Alibaba Cloud to integrate its AI chips into their cloud and edge computing solutions. This has enabled DEEPX to reach a wider customer base and expand its presence in key markets worldwide.
Industry Recognition and Accolades
DEEPX’s innovative technology and rapid growth have garnered recognition within the industry. The company has been awarded the China Artificial Intelligence Core Technology Innovation Award and the China Innovative Chip Award. These accolades are a testament to DEEPX’s commitment to advancing the field of AI computing and its leadership position in the market.
Investor Confidence in DEEPX’s Future
The successful completion of DEEPX’s Series C funding round is a testament to the confidence that global investors have in the company’s future. The investment will enable DEEPX to build on its strong foundation and continue to drive innovation in the AI chip industry.
Kind regards, G. Smith