AI semiconductor firm Deep Vision raises $35 m in Series-B

Our Bureau Bengaluru | Updated on September 20, 2021

Tiger Global, Western Digital join the investment round

Deep Vision, a US-based artificial intelligence semiconductor company with its India headquarters in Hyderabad, has raised $35 million in an oversubscribed Series B financing round led by Tiger Global.

Tiger Global was joined by Series A investors Exfinity Venture Partners, SiliconMotion and Western Digital to fund this round.

Comprehensive suite

Deep Vision provides an AI processor and comprehensive software development suite for edge computing applications.

Deep Vision’s patented AI processor, named ARA-1, delivers a combination of performance, power, and price for camera-based applications like smart retail, driver-monitoring systems, smart city, drones, and factory automation. Although best known for its ability to perform real-time video analytics, the company’s processor also provides natural language processing (NLP) capabilities for a growing market of voice-controlled applications.

Sree Reddy, Deep Vision’s VP of Engineering, said, “Deep Vision’s leadership position in the Edge AI space is the result of cutting-edge research developed at Stanford coupled with flawless execution by the engineering team in India as well as the cross-border collaboration between the US and India teams.”

“This investment is a resounding affirmation of Deep Vision’s solutions and strategic direction, which are rapidly driving our company into a wide variety of applications in our key target markets,” said Ravi Annavajjhala, CEO, Deep Vision.

Expand capabilities

Annavajjhala said, “When combined with its existing revenue streams, the funding proceeds will help Deep Vision expand the capabilities of its AI processor and software tools and support its rapidly growing customer base.”

“We will now be able to significantly fortify our efforts to continue designing and building the world's most power- and price-efficient AI inference platform as well as flawless software development tools,” he added.

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“We believe that the company is positioned for a long runway ahead, with a unique AI processor that combines innovative software and silicon architecture for edge computing,” said Scott Shleifer, Partner, Tiger Global.

“One of the Exfinity Venture Partners’ core funding theses is to back companies leveraging skill and scale in the fertile Indo-US tech corridor, particularly in the deep tech domain from early stages. Deep Vision is a testament to this, as their execution demonstrates India's semiconductor chip designers' potential in building cutting edge AI silicon chips and expediting India's path to achieve self-reliance in chip manufacturing and the emerging semiconductor ecosystem,” said Chinnu Senthilkumar, General Partner & CTO, Exfinity Venture Partners.

Published on September 20, 2021

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