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[FUNDING NEWS] South Korea-Based Fabless Startup MetisX Secures $44 Million in Series A Funding

MetisX, a Seoul, South Korea-based startup employing compute express link  technology to produce intelligent memory solutions, has raised $44 million in Series A funding.

MetisX, a Seoul, South Korea-based startup employing compute express link technology to produce intelligent memory solutions, has raised $44 million in Series A funding.

Along with follow-on investors from the seed round, including Mirae Asset Venture Investment, Mirae Asset Capital, IMM Investment, SBI Investment, Tony Investment, and Wonik Investment Partners, the round also included new investors, including SV Investment, STIC Ventures, LB Investment, and the Industrial Bank of Korea.

Read also – UAE-based Data Analysis Lune Secured $1.5 Million in Seed Funding

The money will be used by the business to increase operations and development initiatives.

MetisX, led by CEO Jin Kim, focuses in providing solutions to address the demands of clients in industries including artificial intelligence, big data, vector databases, DNA analysis, and more that need processing massive amounts of data. With a base built on compute express link (CXL) standards, its competence is in the creation of data-centric computing architecture and intelligent memory solutions.

Read also – Singapore-Based UXLINK Secures $15 Million in New Round of Funding

Large-scale data processing prototypes, including vector databases, big data analysis, and DNA analysis, have already been finished by MetisX. By the beginning of next year, the startup intends to produce its first ASIC chip, aiming to attract large data centre clients including IT giants like Amazon, Microsoft, Google, and Meta.

To reach its target market, MetisX intends to expand its marketing and sales team and open a branch in the US.

About MetisX

MetisX has one goal to develop the core technologies that will usher in an era of computing that is centred around data. Their main goal is to satisfy clients in industries like AI Big Data, Vector Databases, DNA Analysis, and others that require processing enormous amounts of data with innovative solutions.

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