Rebellions, a South Korea-based fabless AI chip startup has closed a $124 million Series B funding, bringing its total raised to around $210 million since inception in 2020, valuing the startup at approximately $658 million post-money.
Investors
Led by telecom giant KT, with participation from previous backers Temasek’s Pavilion Capital and Korea Development Bank, and new investors including Korelya Capital and DG Daiwa Ventures, also participated.
KT Investment is a venture capital arm of KT Corporation. The firm was founded in 2015 and is based in Seoul, South Korea. The firm seeks to invest in early to mid-stage companies operating in information and communications technology, mobile platforms, automation, artificial intelligence, robotics, and healthcare sectors.
Rebellions Use of Funds
The company will use the funding to develop its third AI chip, Rebel, ramp up production of Atom (its data center-focused chip), and for hiring. Rebel is being developed in partnership with Samsung Electronics and will target the generative AI market running large language models and hyperscalers.
About Rebellions
Founded in 2020, Rebellions is a fabless startup in the field of artificial intelligence (AI) semiconductors. The company's semiconductors are AI accelerators that are built by bi-directionally bridging the gap between underlying silicon architectures and deep learning algorithms, attained by pushing algorithm boundaries to exploit silicon budgets and re-architecting AI processors to incorporate features through silicon-dedicated DL kernels, enabling customers to arm themselves with energy-efficient AI hardware as well as seamless integration.
Funding Details
Company: Rebellions, Inc.
Raised: $124.0M
Round: Series B
Funding Month: January 2024
Lead Investors: KT
Additional Investors: Temasek’s Pavilion Capital, Korea Development Bank, Korelya Capital and DG Daiwa Ventures
Company Website: https://rebellions.ai/
Software Category: AI Chips
Source: https://techcrunch.com/2024/01/29/rebellions-lands-124m-for-ai-chip-rebel-in-collab-with-samsung/