Asia Tech Wire (Feb 26) -- South Korean artificial intelligence chip startup DeepX is close to securing $90 million in funding, according to Bloomberg.

Citing people familiar with the matter, Bloomberg reported Monday that DeepX is close to raising 120 billion won ($90 million) in a funding round to accelerate production and global expansion.

The South Korean company, founded in 2018, has raised 60 billion won from Korean private equity firm Skylake Equity Partners and 30 billion won from existing backer Timefolio Asset Management.

DeepX is also in final talks with another investor to secure 30 billion won by next month.