Temasek’s Pavilion Capital Backs South Korean Ai Chip Maker Rebellions With $50M Investment
06/02/22, 11:59 PM
Money raised
$50 million
Global venture capital firms are pouring money into the semiconductor startups developing the next generation of chips. Semiconductors, which have become a valued asset, are used in virtually almost every industry, including 5G networks, automation, the internet of things, financials, smart homes, smart cities, virtual reality (VR), augmented reality, and self-driving cars.
Company Info
Additional Info
Today, the South Korea-based company that builds chips designed for artificial intelligence applications, announced it has raised a $50 million (62 billion KRW) Series A from investors including Temasek’s Pavilion Capital, Korean Development Bank, SV Investment, Mirae Asset Capital, Mirae Asset Ventures, IMM Investment, KB Investment and KT Investment. The Series A, which was oversubscribed – the firm initially targeted around $40 million – and wrapped up in less than three months, brings Rebellions’ total funding raised to about $80 million (100 billion KRW) at an estimated valuation of $283 million (325 billion KRW), CEO of Rebellions Park said in an interview with TechCrunch. The startup will use the capital to mass-produce its second AI chip prototype, called ATOM, which will be used in enterprise servers, Park said. The company claims that its first chip ION, released in November 2021, improves trading speeds and reduces latencies and is two times faster than Intel Habana Labs’ AI Chip Goya in terms of execution.