AI chipmaker Rebellions gets $22.8M Series A extension from Korean telco company KT  – TechCrunch

AI chipmaker Rebellions gets $22.8M Series A extension from Korean telco company KT  – Nob6

Category : Startup

Author: Nob6 Team

Post Date :

[ad_1]

South Korean AI chip developer Rebellions has raised a $22.8 million (30 million KRW) extension to its Collection A financing from a strategic investor KT, one of many largest telecom firms in South Korea. 

Final month, Nob6 reported on Rebellions closing on $50 million in funding that valued the corporate at an estimated $283 million. At the moment, Rebellions CEO and co-founder Sunghyun Park advised Nob6 that the startup wrapped up its preliminary Collection A, which was oversubscribed, in lower than three months from monetary traders. 

The Pavilion Capital-backed AI chipmaker has raised about $72.8 million (92 billion KRW) in whole Collection A funding, bringing its whole funding to about $102.8 million since its inception in 2020. 

Rebellions spokesperson advised Nob6 that the corporate plans to make use of the extension spherical to mass-produce its second AI chip prototype, ATOM, that will probably be used for big firms within the cloud sector and knowledge facilities. 

KT says it needs to develop AI chips corresponding to NPU (neural processing unit) that will probably be used for knowledge facilities, autonomous automobiles and fintech.

That is the second strategic funding KT has made with AI chipmakers in South Korea in its effort to speed up the AI semiconductor enterprise. Ku additionally stated in a ready assertion that KT would proceed to spend money on excellent startups amid a troublesome funding atmosphere. 

The competitors for AI chips has been heating up as firms, together with massive tech giants like Nvidia, Intel, Google, and Apple, develop competing merchandise. Intel acquired Habana Labs, an Israeli startup growing AI chipmaker for knowledge facilities, in 2019.  

The worldwide AI chip market is projected to succeed in $194.9 billion by 2030, up from $8.02 billion in 2021, per the AI chip market outlook report

“AI semiconductor is likely one of the subsequent massive applied sciences,” stated CEO of KT Hyeon-Mo Ku in a ready assertion. “By means of the partnership with KT, we hope Rebellions will turn out to be a world fabless firm like NVIDIA and Qualcomm.”  

Rebellions can be at present in discussions with potential clients within the monetary sector to get its first AI chip, ION, which was launched in November 2021.

“We’re wanting ahead to collaborating with KT, a pacesetter within the Cloud and web knowledge middle business, and the strategic partnership would be the driving pressure behind Rebellions’ new progress and enterprise,” Park stated in its ready assertion. 

Buyers taking part in Rebellions’ Collection A embody Temasek’s Pavilion Capital, Korean Growth Financial institution, SV Funding, Mirae Asset Capital, KT Funding and Kakao Ventures. 

[ad_2]

Source link

Tags

About Author

Nob6

Nob6 have a great team of writers and developers who are enthusiastic about delivering quality content focusing on 10,000 + users and loyal readers. 

Leave a Comment

Author : Nob6

Nob6.com: Nob6 Blog – The Complete blog for Blogging, Business, Money Making Tips, Startups, Webmaster, Guest posting, tips and tricks, and Technology News.

Join Us

Recommended Posts

The Art of MDF Cutting: Transforming Sheets into Showpieces

The Art of MDF Cutting: Transforming Sheets into Showpieces

DevOps: Revolutionizing Software Development Through Automation and Collaboration

DevOps: Revolutionizing Software Development Through Automation and Collaboration

Best Free and Paid Proxies in Spain

Best Free and Paid Proxies in Spain: A Comprehensive Review

Mastering Advanced DevOps: Serverless Architectures and Microservices for Enhanced Agility

Mastering Advanced DevOps: Serverless Architectures and Microservices for Enhanced Agility

Chris Rapczynski Innovating Boston's Construction Industry Through Strategic Vision

Chris Rapczynski: Innovating Boston’s Construction Industry Through Strategic Vision

Phaneesh Murthy’s Strategic Vision for IT Service Evolution

Phaneesh Murthy’s Strategic Vision for IT Service Evolution

Trickle Chargers Boosting Your Car's Battery Life

Trickle Chargers: Boosting Your Car’s Battery Life