South Korean artificial intelligence (AI) semiconductor company Sapeon made a statement. In the statement, it announced that it completed its Series A financing round, generating $ 45 million in revenue. The latest investment increased the company’s valuation to over $378 million. The Series A round was led by a group of investors including GS Group affiliates; Daebo Communication & Systems Co., Hana Financial Group, Mirae Asset Venture Investment, We Ventures, E1 and others. The round was also led by Ascent Equity Partners.
It aims to become a provider of full-range AI solutions, from semiconductor-based hardware to AI-focused software. The company is preparing to collaborate with its investors in various areas such as financial optical character recognition (OCR) models, cloud-based AI services powered by Sapeon semiconductors, smart transport and innovations in factory automation.
In the meantime, it is also worth mentioning. Sapeon was first established in the US as an artificial intelligence semiconductor factory with the joint investment of SK Telecom Co., SK Hynix Inc. and SK Square Co. The company launched the AI semiconductor X220 in 2020. A new iteration, the X330, is scheduled to be released in the second half of this year. It promises more than a fourfold performance increase compared to its predecessor, which includes an advanced inference neural processing unit (NPU).
This investment not only validates Sapeon’s technical prowess, but also underlines our ability to adapt our technology to numerous business applications. The funding will be instrumental in enabling close co-operation to deliver high-quality AI services across various industries.Ryu Soojung, CEO of Sapeon