Artificial intelligence (AI) chip company Rebellions said on the 30th that it closed a 340 billion won Series C round, bringing its cumulative funding to 640 billion won and its valuation to 1.9 trillion won.
With this investment, Rebellions was recognized for a valuation more than double that of its Series B round completed in January last year.
Notably, British chip design company Arm joined this round as the first investor in an Asia-Pacific startup. The two companies will pursue strategic cooperation to build high-performance, low-power AI infrastructure.
In addition, Samsung Venture Investment and Samsung Securities, Taiwan's Pegatron Venture Capital, InterVest, BonAngels, POSCO Venture Capital, and Jusung Engineering joined as new investors. Rebellions plans to expand strategic synergies with these corporations across the industry.
Overseas financial investors such as LionX Ventures, an affiliate of Singapore's OCBC Bank, also newly joined, while existing investors including Korea Development Bank, SV Investment, Mirae Asset Venture Investment and Mirae Asset Capital, and France's Korelya Capital continued their support.
Based on this investment, Rebellions will prepare for mass production of its flagship product "RebelQuark" and accelerate development of new lineups, including the follow-on product "RebelIO." It also plans to actively pursue hiring and overseas business expansion.
Shin Seong-gyu, chief financial officer (CFO) of Rebellions, said, "We believe this funding proves that Korea's capital market has the capacity to foster AI semiconductor corporations at a global level," adding, "We will take this as an opportunity for a new leap forward, contribute to Korea establishing itself as one of the world's top three in AI, and deliver concrete results on the global stage."