AI chip startup Rebellions raises $400 million in $2.3B pre-IPO round

The best news Series C investment round in November, South Korean AI startup Chip Rebellions raised another $400 million in funding.

The latest investment, which comes ahead of an IPO planned for later this year, was led by Mirae Asset Financial Group and the Korea National Growth Fund. It also comes at the same time that the company is involved aggressive expansion – and soon announced plans expanding its presence not only in Asia but also in the Middle East and the US

Founded in 2020, Rebellions designs and manufactures AI chips while producing their own products. The basic chips are designed to do the math — the calculations necessary for AI models to answer user questions. The concept has grown in importance as LLMs have matured and begun to see widespread commercialization.

The company closed a $124 million in a Series B in 2024. Then, in November, Terrorists raised an additional $250 million during Series C. As of today, the company’s funding now totals $850 million – $650 million raised in the past six months. Meanwhile, the initial valuation is about $2.34 billion, the company said Monday.

In addition to the investment round, Rebel also announced the release of two new products: RebelRack and RebelPOD, which are described as AI platforms. POD stands for the production-ready part of compute, while Rack “combines multiple racks into a scalable cluster designed for large-scale AI deployments,” the company said.

Speaking to TechCrunch, Chief Business Officer of Rebellions, Marshall Choy – who is leading the company’s global expansion – said that they recently established subsidiaries in the US, Japan, Saudi Arabia, and Taiwan. Choy said the company is developing technology in the US, where it plans to court cloud providers, government agencies, telecom manufacturers, and Neoclouds. He declined to comment at the time of the IPO.

“AI is now being tested by its ability to work in the real world, under energy constraints, and with good economic returns,” said Sunghyun Park, co-founder and CEO of Rebellions. “This is changing between gravity to make it sustainable and the programs that make infrastructure work.”

Rebellion is one of a a new generation of chip makers who have tried to challenge NVIDIA once wearing the iron rule in the chip industry. As this authority begins to wane, other major technology companies such as AWSMeta and Google – along with a new generation of innovators – also wanted to make their own chips.