DEEPX is a South Korean on-device AI chip (NPU, or neural processing unit) startup that makes hardware and software for various AI applications in electronic devices. The company announced this week that it has raised $80 million (KRW 108.5 billion) in a Series C round at a valuation of $529 million (KRW 723 billion), which has surged more than eight times from its Series B funding, about $15 million, in 2021.  The Series C funding, which brings its total raise to around $95 million, will go toward mass production of the startup’s inaugural products — DX-V1, DX-V3, DX-M1 and DX-H1 — in late 2024 for global distribution. The startup will also use the new capital to expedite developing and launching its next generation of large language model (LLM) on-device solutions.  DEEPX was founded in 2018 by CEO Lokwon Kim, who previously worked at Apple, Cisco Systems, the IBM Thomas J. Watson Research Center and Broadcom.  The market size of global edge AI, also called on-device AI, is projected to reach $107.47 billion by 2029, up from $11.98 billion in 2021, …