FuriosaAI Raises $592 Million in Series D, Reaching $2.75 Billion Valuation
Summary
- FuriosaAI said it completed an 820 billion won ($592 million) Series D funding round, valuing the company at 3.8 trillion won ($2.75 billion).
- The company said the National Growth Fund, Korea Development Bank, UAMCO, Infinitum, and QUDA Capital Partners took part in the investment.
- FuriosaAI said it will use the funds to accelerate the global commercialization of its second-generation AI chip 'RNGD'.
Forecast Trend Report by Period
South Korean AI chip startup FuriosaAI said on October 29 that it had completed a Series D funding round worth 820 billion won ($592 million). The company was valued at about 3.8 trillion won ($2.75 billion) after the investment.
FuriosaAI launched the Series D round in January with a target of 450 billion won to 750 billion won. It raised more than planned because of strong investor demand, the company said.
The National Growth Fund was the largest investor in the round, committing 370 billion won ($267 million). Korea Development Bank and UAMCO invested 30 billion won ($21.7 million) and 40 billion won ($28.9 million), respectively.
U.S.-based Infinitum, which co-led U.S. semiconductor company Groq's $650 million funding round in June, was the largest overseas investor. Singapore-based QUDA Capital Partners also joined the round.
FuriosaAI said it will use the proceeds to accelerate global commercialization of its second-generation AI chip, RNGD, or Renegade.
Park Han-shin, Hankyung.com reporter phs@hankyung.com
Korea Economic Daily
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