Tiger Global is joined by Series A investors Exfinity Venture Partners, SiliconMotion, and Western Digital, which are also rejoining in the latest round of financing.
Deep Vision, Inc., the developers of an AI processor and comprehensive software development suite for edge computing applications, today announced that it received $35 million in an oversubscribed Series B financing round, led by Tiger Global. 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. Tiger Global is joined by Series A investors Exfinity Venture Partners, SiliconMotion, and Western Digital, which are also rejoining in the latest round of financing.
Deep Vision’s patented AI processor, named ARA-1, delivers a ground-breaking 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. Deep Vision complements its processing technology with an extremely comprehensive, flexible, and robust set of development tools that allow its customers to easily convert their neural network models into highly optimized computation graphs ready to be deployed on the ARA-1 chip.
“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, Deep Vision’s Chief Executive Officer. “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.”
“The key to our success is rooted in the ingenuity, passion, dedication, and spirit of collaboration of our architecture and engineering teams in India,” said Sree Reddy, Deep Vision’s VP of Engineering. “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.”
“We are excited to partner with Deep Vision. 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,” said Chinnu Senthilkumar, General Partner & CTO, Exfinity Venture Partners. “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.”
Source: Business World