TL;DR:
- Sapeon raises $46 million for AI chip and software advancement.
- Originated from SK Telecom, SK Hynix, and SK Square.
- Comprehensive AI strategy covering hardware, algorithms, and services.
- X220 chip processes 6,700 images per second with 6.7 Kframes/s speed.
- X330 chip, upcoming in H2 2023, promises quadruple X220 performance.
- Funding led by Ascent Equity Partners, valuing Sapeon at $380 million.
- Partnerships with Hana Financial Group, GS Group, and Daebo Information & Communication.
- Innovations utilized in OCR models, image enhancement, cloud infrastructure, and more.
Main AI News:
In a significant development, Sapeon, a Korean-based technology company, has successfully raised an impressive sum of KRW60 billion (equivalent to $46 million in USD or €42 million in EUR) dedicated to the enhancement of its AI chip and software development initiatives. Founded as a spin-off from prominent entities such as SK Telecom, SK Hynix, and SK Square, Sapeon is poised to revolutionize the AI landscape by offering a comprehensive AI full-stack strategy. This strategy encompasses a wide spectrum of offerings, ranging from cutting-edge AI semiconductor hardware to advanced AI algorithms and software, culminating in a suite of AI-powered services.
An illustrious milestone for Sapeon has been the creation of the X220 chip, meticulously designed for 16, 8, and 4-bit inference tasks. A remarkable facet of this innovation lies in its deep learning computation speed, which clocks in at an impressive 6.7 Kframes per second. To put this in perspective, the X220 chip can seamlessly process a staggering 6,700 images every second.
Building upon this success, Sapeon is gearing up to introduce its next-generation X330 chip in the latter half of the ongoing year. This iteration is projected to offer four times the performance capabilities of its predecessor, the X220, facilitated by the incorporation of GDDR6 memories and an added self-learning capability. Looking further ahead, Sapeon’s roadmap includes the forthcoming X340 and X350 models, both slated for release this year, followed by the highly anticipated third-generation X430 chip, equipped with high-speed HBM3 memory, projected to debut in 2025.
Ascent Equity Partners led the charge in Sapeon’s recent Series A funding round, with noteworthy participation from GS affiliates, Daebo Information & Communication, Hana Financial Group, Mirae Asset Venture Investment, We Ventures, and E1. This strategic investment has propelled Sapeon’s valuation to an impressive KRW500 billion (equivalent to $380 million USD), underscoring the industry’s confidence in Sapeon’s technological prowess and potential.
Ryu Su-jeong, CEO of Sapeon, remarked on the significance of this investment, stating, “This affirmation from Ascent Equity Partners, Hana Financial Group, GS Group affiliates, Mirae Asset Venture Investment, We Ventures, and E1 stands as a validation of Sapeon’s technological acumen.” Su-jeong emphasized the company’s commitment to applying this recognition across diverse business domains and leveraging its accumulated technology and expertise to deliver high-quality AI services across various sectors.
Ascent Equity Partners, a strategic investor, plays a pivotal role in bridging connections within the SK group of companies. Leveraging the X220 chip, Sapeon has successfully integrated it into two PCI Express 3.0 cards, boasting impressive performance metrics ranging from 65 to 87 TOPS to a remarkable 174 TOPS. Collaborating with Hana Financial Group, Sapeon has embarked on a stability testing journey for its OCR (Optical Character Recognition) model, a crucial component in elevating document recognition accuracy within the banking sector. The successful outcome of this testing underscores the operational efficacy of the Sapeon X220 chip within the OCR domain.
Sapeon’s sphere of influence extends to partnerships with the GS Group. Collaborating with SK Telecom’s AI-driven image/video enhancement solution, SUPERNOVA, Sapeon aims to fortify CDN (Content Delivery Networks) services within the media realm. Moreover, the company is diligently working on AI-driven contact center solutions, facilitated by its proprietary chips deployed in data centers, augmenting cloud infrastructure capabilities.
Conclusion:
Sapeon’s successful funding round and groundbreaking AI chip innovations position them as a key player in the evolving market. Their comprehensive strategy and strong collaborations pave the way for transformative AI applications across industries, shaping the landscape of technology and business dynamics.
