Funding Secured: FuriosaAI Raises $125 Million for Expansion of AI Inference Chip Manufacturing

FuriosaAI Secures $125 Million Series C Bridge Funding

FuriosaAI, a semiconductor company focused on building a new AI chip for data centers and enterprise customers, has announced the completion of a $125 million Series C bridge funding round. The funding round was supported by a number of new and existing investors, including the Korea Development Bank, Industrial Bank of Korea, Keistone Partners, Kakao Investment, Hanwha Asset Management, and IMM Investment.

Based in South Korea, FuriosaAI was founded with a mission to make AI computing sustainable and accessible to everyone on Earth. The company's goal is to solve the problem of unsustainable power consumption, high operating costs, and infrastructure limitations of legacy GPU-based hardware in AI compute.

The new funding will be used to accelerate mass production of Furiosa's RNGD AI accelerator, which has already demonstrated impressive performance. RNGD AI accelerator achieved 2.25x better LLM inference performance per watt vs. GPUs, making it a highly efficient solution for AI computing.

FuriosaAI's leadership team includes Dr. Youngjin Cho, who has been appointed Vice President of Hardware. Dr. Cho, a silicon and SoC expert, holds a PhD from Seoul National University and was previously a Corporate Vice President at Samsung Electronics. Jeehoon Kang, a renowned expert in parallel systems from KAIST, has joined Furiosa as Chief Research Officer.

The company's recent major design win with LG AI Research, which has adopted Furiosa's RNGD AI accelerator, is a testament to the potential of Furiosa's technology. For more information about FuriosaAI, visit furiosa.ai.

Oliver Libaw is the press contact for FuriosaAI, and can be reached at [email protected] for further queries. The institutions involved in FuriosaAI's Series C funding round, besides the Korea Development Bank and the Industrial Bank of Korea, have not been disclosed at the time of this press release. Since its founding in 2017, Furiosa has raised a total of $246 million from investors and is currently valued at $735 million.

Business Wire is the author of this press release.