Artificial Intelligence (AI) semiconductor company Deep Vision announced on Monday that it raised $35 million in an oversubscribed Series B financing round led by Tiger Global. Deep Vision is the developer of an AI processor and comprehensive software development suite for edge computing applications.
The company, in an official statement, stated that the funding proceeds will help it expand the capabilities of its AI processor and software tools as well as support its rapidly growing customer base.
"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 CEO.
"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," Annavajjhala added.
Investment firm Tiger Global was joined by Series A investors Exfinity Venture Partners, SiliconMotion, and Western Digital in the latest round of funding.
"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
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, explained the firm. The ARA-1 AI processor is known for its ability to perform real-time video analytics. Deep Vision's processor also provides natural language processing (NLP) capabilities for a growing market of voice-controlled applications.
The company complements its processing technology with a set of development tools that allow its customers to easily convert their neural network models into computation graphs ready to be deployed on the ARA-1 chip
"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.
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