[Funding alert] Deep Vision raises $35M from Tiger Global, others
Tech firm Deep Vision, Inc on Monday said it has raised $35 million (about Rs 257.8 crore) in funding, led by Tiger Global.
The series B round — which was oversubscribed — also saw participation from series A investors, Exfinity Venture Partners, SiliconMotion, and Western Digital, a statement said.
The company has raised about $ 54 million in funding to date.
"When combined with its existing revenue streams, the funding proceeds will helpexpand the capabilities of its AI processor and software tools and support its rapidly growing customer base," it added.
Deep Vision, Inc has an AI processor and comprehensive software development suite for edge computing applications. Its processor also provides natural language processing (NLP) capabilities for a growing market of voice-controlled applications.
"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. 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," Deep Vision Chief Executive Officer Ravi Annavajjhala said.
The key to Deep Vision's success is rooted in the ingenuity, passion, dedication, and spirit of collaboration of its architecture and engineering teams in India, Deep Vision Vice President (Engineering) Sree Reddy said.
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, Reddy added.