KT, one of the largest telecom companies in South Korea, is one of the investors in Rebellions.
Rebellions closed on $50 million in funding and was valued at an estimated $283 million. Rebellions' initial Series A was oversubscribed in less than three months, according to the startup's CEO and co- founder.
Since its inception in 2020, the Pavilion Capital-backed artificial intelligence chipmaker has raised more than 100 million dollars.
Temasek’s Pavilion Capital backs South Korean AI chip maker Rebellions with $50M investment
Rebellions will use the extension round to mass-manufacture its second artificial intelligence chip prototype, ATOM, which will be used for large companies in the cloud sector and data centers, according to a Rebellions spokesman.
The company wants to develop artificial intelligence chips that will be used for data centers.
This is the second strategic investment KT has made with South Korean artificial intelligence chipmakers. Ku said in a prepared statement that KT would continue to invest in outstanding startup.
Tech giants like Intel and Apple are competing with each other in the race for artificial intelligence chips. Israel's Habana Labs was acquired by Intel in 2019.
The global artificial intelligence chip market is expected to grow to $194.9 billion by the year 2030.
One of the next big technologies is the use of artificial intelligence. Rebellions will become a global fabless company thanks to the partnership withKT.
Rebellions is in talks with potential customers in the financial sector to get its first artificial intelligence chip.
Park said that the strategic partnership would be the driving force behind Rebellions' new growth and business.
Korean Development Bank, Mirae Asset Capital and KT Investment are among the investors in Rebellions.
Intel buys AI chipmaker Habana for $2 billion