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Fabless startup MetisX secures $44m in Series A funding

The South Korean firm has now raised more than USD 50 million since 2022 to accelerate its vision of a data-centric approach to next-gen memory chip design.

MetisX was established in 2022, and focuses on developing intelligent memory solutions using Compute Express Link (CXL) technology, which it believes will be the next-generation standard for interconnect technology. MetisX says it wants to revolutionise traditional CPU-centric computing architectures by introducing a data-centric approach that promises to be smarter, faster, and more cost-effective.



Now it has USD 44 million more to pursue its mission. The investors for this round include SV Investment, STIC Ventures, LB Investment, and the Industrial Bank of Korea, as well as 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.

"We are pleased to have successfully achieved our Series A funding goal amidst a challenging market environment," said Jin Kim, CEO and co-founder of MetisX. "Our goal is to become the next NVIDIA, not by competing directly against them, but by creating a new market in the data-centric domain to pave the way for the AI era."

MetisX claims to have made significant gains in product development, having completed prototypes in large-scale data processing such as vector databases, big data analysis, and DNA analysis. These prototypes proved twice as fast as conventional server CPUs.

Next up, MetisX wants to manufacture its inaugural ASIC chip by early next year, targeting major data centre customers including tech giants such as Amazon, Microsoft, Google, and Meta. 
 


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June 13 2024 1:49 pm V22.4.55-2