Artificial intelligence (AI) chip manufacturer Rebellions, situated in South Korea, announced on Tuesday that it has closed its Series B funding round, raising $124 million.
With a total raise of more than $200 million, Rebellions has raised over $200 million, making it the most funded semiconductor startup in South Korea, according to a statement from the company.
The funding was spearheaded by KT, the leading datacenter company in South Korea, according to the statement, with notable contributions from Shinhan Venture Investment and KT’s subsidiary, kt cloud.
Global investors also contributed to the round, with Temasek’s Pavilion Capital making a follow-up investment.
Koreyla Capital from France and DGDV from Japan are among the new investors, demonstrating the global recognition of Rebellions’ superior technological and strategic capabilities.
KDB (Korea Development Bank), Noh& Partners, KB Securities, KB Investment, SV Investment, Mirae Asset Venture Investment, Mirae Asset Capital, IMM Investment, KT Investment, Seoul Techno Holdings (Investment company of Seoul National University), Oasis PE, Gyeongnam Venture Investment, and SDB Investment were among the numerous follow-on investors and new investors that took part in this round.
With the additional funds from the investment, Rebellions will be able to draw in more talent and move more quickly on the development of Rebel, the company’s next-generation AI chip that will be used in conjunction with Samsung Electronics to run Large Language Models (LLMs).
Rebellions stated that the company plans to grow its customer base both domestically in South Korea and internationally as its second chip ATOM prepares for mass production this year.
“In a tough investment climate, our investors have shown remarkable confidence by committing $124 million, solidifying our status as South Korea’s premier AI chipmaker and demonstrating Rebellions’ further potential,
“This investment is a robust foundation for expanding our global presence, particularly in markets like the U.S. and Japan, and will accelerate the pace of our global business strategies and next-gen product development,” said Sungkyue Shin, Chief Financial Officer of Rebellions.
