Rebellions said on the 31st that it raised a 640 billion won pre-IPO round centered on policy funds and private capital. Policy funds totaled 300 billion won, with 250 billion won from the Public Growth Fund and 50 billion won from the Korea Development Bank.
Private capital was led by Mirae Asset Group as the anchor investor. Existing investors are also exercising their rights to purchase new shares, and the deal is expected to close at a total of 640 billion won. That is comparable to the roughly 650 billion won in cumulative funding secured through Series C over the past five years.
This investment is effectively the first step of action in the government's core task, the "K-Nvidia cultivation project," of the "Public Growth Fund first megaproject," which is being pursued with the goal of making Korea one of the world's top three AI powers.
The government plans to build a domestic Neural Processing Unit (NPU) ecosystem that will overcome the power and expense limits of existing graphics processing units (GPUs), based on various investments and support needed in the AI Semiconductor field. Of the 150 trillion won Public Growth Fund over five years, 15 trillion won will be executed in the form of equity investments in innovative corporations.
With this funding, Rebellions plans to move into aggressive hiring and rapidly expand its organization. It will also step up its push into global markets, led by the next-generation AI Semiconductor chip "Rebel100."
Rebellions set a goal of strengthening the virtuous-cycle structure of the domestic semiconductor value chain spanning fabless, foundry, and memory, and contributing to enhancing the global competitiveness of Korean semiconductors in the AI era.
Rebellions Chief Executive Park Seong-hyun said, "We will double our team size or more with competitive talent to achieve a higher level of talent density, and from the center of the global AI infrastructure market, we will directly prove that competitiveness together with Korea's AI and semiconductor ecosystem."