Panmesia, a South Korean CXL (Compute Express Link) semiconductor startup, has raised ₩16 billion in a seed round. The company’s valuation is now ₩1.034 trillion.

The round was led by Daegyo Investment, SL Investment, Smilegate Investment, GNTech Venture Capital, Timeworks Investment, Yuanta Investment, and Quantum Ventures Korea. Panmnesia plans to use the investment to further develop its CXL semiconductor technology and to develop CXL solutions that accelerate AI applications and large-scale data parallel processing.

Panmnesia is a spin-off company founded by Professor Jeong Myeong-su of KAIST’s Department of Electrical and Electronic Engineering. The company has a team of KAIST-educated PhDs and engineers with expertise in memory expansion and CXL. Panmnesia is a CXL interface IP specialist that connects various system devices, such as memory expansion devices, accelerators, processors, and switches. The company provides a comprehensive range of technologies for CXL, including CXL semiconductor IP, data processing acceleration solutions, and semiconductor technology.