Rebelliona south korean legend free The AI chip startup today said it has closed $124 million (165 billion KRW) in a Series B round of funding to develop its third AI chip, called Rebel. The startup will also use the oversubscribed new capital, with an initial target of $90 million, to expand production of its data center-centric chip, Atom, and for hiring.
This Series B values the three-year-old startup at about $658 million (880 billion KRW), Rebellion CFO Sungkyu Shin said in an exclusive interview with TechCrunch. This latest capital investment brings the total amount raised by Rebellion since its founding in 2020 to approximately $210 million.
South Korean telecom giant KT led this latest round as a strategic investor. Previous backers Temasek’s Pavilion Capital and Korea Development Bank and new investors including Corellia Capital and DG Daiwa Ventures also participated.
Rebellion’s fundraising comes at a critical moment in the chip industry, particularly around the development and use of AI chips.
Nvidia is the AI chip market leader, its name synonymous with the AI boom currently sweeping the technology world. many passed saw how does nvidia have good chances partly due to Chasm Which has created an ecosystem of hardware and software. But the game is far from over for the rest of the field. Data processing and associated high costs remain major issues when it comes to AI applications, so the struggle continues to find innovative breakthroughs to improve these.
Development is happening from many fronts. Big tech titans like Google, Amazon, Apple And Microsoft Develop or have your own chips to integrate AI into your products and services. Sam Altman, CEO of Open AI, reportedly Visited South Korea last week To…