SEOUL, March 30 (Reuters) – South Korean artificial intelligence chip startup Rebellions said on Monday it had raised $400 million in its latest funding round, valuing the company at about $2.34 billion as it accelerates expansion into the U.S.
The round, led by Mirae Asset Financial Group and the Korea National Growth Fund, follows a $250 million Series C in September 2025 and brings the company’s total capital raised to $850 million, Rebellions said in a statement.
Having raised $650 million in the past six months, accounting for more than 75% of its total funding to date, Rebellions said it was entering a new phase of growth, focused on expanding in the U.S., scaling up production of its Rebel100 platform, and preparing for a future IPO.
Rebellions, founded in 2020, designs neural processing units (NPUs) for AI inference. It said demand for efficient AI infrastructure was rising rapidly across cloud providers, telecom operators and government-backed initiatives, particularly in the U.S.
The state-led Korea National Growth Fund provided 250 billion won ($165.45 million) in the latest round, the first direct investment by the government under its “K-Nvidia” initiative.
The “K-Nvidia” project, jointly led by the Financial Services Commission and the Ministry of Science and ICT, aims to nurture a globally competitive chip company amid intensifying competition in the sector, which is dominated by U.S. firms such as Nvidia.
The funding round underscores the growing investor interest in companies developing alternatives to dominant AI chipmakers, as demand for cost-efficient and deployable AI systems increases globally.
Rebellions’ investors include Aramco’s Wa’ed Ventures, Arm, KT, Samsung, SK Hynix and SK Telecom. It is headquartered in South Korea and operates in the United States.
Mirae Asset’s investments also include SpaceX.
($1 = 1,511.0000 won)
(Reporting by Heekyong Yang; Editing by Kate Mayberry)
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