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South Korean startup Panmnesia has been recently valued at $81.4M following a recent seed round.

  • Panmnesia’s Unique Offering: At its core, Panmnesia’s uniqueness lies in its Compute Express Link (CXL) technology. This enables a seamless integration of AI accelerator chips, processors, and memory.
  • The Challenge Addressed: As pointed out by Panmnesia’s CEO, Myoungsoo Jung, a standard interface for managing varied AI accelerators is currently non-existent. CXL technology is Panmnesia’s response to this challenge, promising a more streamlined approach.
  • Growing Interest: Recognition for Panmnesia’s CXL technology is spreading. Chip design software makers Synopsys and Cadence Design Systems have shown interest, with Cadence even planning a direct exploration of Panmnesia’s technology and business model.
  • Funding Success: Panmnesia secured $12.5M in funding in a round led by Daekyo Investment, with contributions from SL Investment, Smilegate Investment, GNTech Venture Capital, Time Works Investment, Yuanta Investment and Quantum Ventures Korea.

In a show of support, the South Korean government is investing $800M over the next five years to boost its domestic AI chip industry. Their aim? To increase the share of Korean AI chips in domestic data centers from virtually zero to 80% by 2030.

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