News highlights:
- AiM Future secures multi-million dollars in new Series A funding.
- Round led by L&S Venture Capital, Hi Investment Partners, Daedeok Venture Partners and existing investors KB Investments and WE Ventures.
- New funds to help scale engineering and go-to-market teams in South Korea and the United States.
- Product will be available for purchase from August 2023.
AiM Future announced today the successful closure of a Series A funding round. The round consists of a multi-million-dollar investment led by L&S Venture Capital, Hi Investment Partners, Daedeok Venture Partners, and existing investors KB Investments and We Ventures. The company, founded in October 2020 by CEO ChangSoo Kim, CTO Jaehwa Kwak, and Executive Vice President of Hardware Engineering Jongtae Lee, was spun out of the Advanced Research Lab of LG Electronics, USA. The core technology was developed there beginning in 2015 and the first consumer products using the resulting semiconductor components went into production in 2019.
Jihae Kim, Managing Director of L&S Venture Capital said, “AiM Future has proven to be a leading innovator in the rapidly growing market for edge AI devices. The team’s expertise in delivering state-of-the-art technologies for consumer electronics positions it well to disrupt incumbent technologies.”
Young Jong Chi, CFA, CAIA, Director of Hi Investment Partners said, “We are thrilled by the promising outlook that the disruptive technologies by AiM Future will soon present to the global market. During a period of rapid growth in AI and edge computing, the breakthrough innovation by AiM Future in semiconductor, AI, robotics, and other industries will be adding further growth opportunities to this market and I believe this investment propels the team to compete on a global scale.”
Sungha Kim, Venture Partner of Daedeok Venture Partners said, “NPU is already the key factor of advanced AI devices and AiM Future is one of the leading NPU IP-based companies in Korea. Therefore, we are very delighted to have the opportunity of investing in this NPU-specialized tech-innovator.”
Jun Lee from KB Investments, Director of KB Investments said, “I am thrilled to continue AiM Future’s journey. The company’s silicon proven NPU IP has already been successfully integrated into LG Electronics’ home appliances. What sets this AI semiconductor company apart is the scalability and flexibility of the company’s NPU IP, which can be adapted to various products. This makes the company’s solutions highly valuable in a market where customization and adaptability are becoming increasingly important.”
Daniel H. Park from We Ventures, Senior Manager of We Ventures said, “Developing high-performance NPUs requires expertise in hardware design, software optimization, and deep learning algorithms. AiM Future is the company that meets all these requirements with cutting-edge technology.”
“I am happy to close this series-A funding during an extended period of turbulent economic conditions. With the support of prominent investors in the AI & semiconductor sectors, AiM Future is able to accelerate the growth of our team and technology portfolio to provide complete AI solutions to the market for many years to come. The proceeds will be deployed to hiring world-class talent and producing test silicon of our next-generation architecture,” said ChangSoo Kim, Chief Executive Officer of AiM Future.
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