Korean AI Startup Rebellions Secures $15M Saudi Investment

Rebellions, a Korean AI chipmaker, has recently announced a significant milestone in its funding journey. The company has raised an impressive US$225 million since its inception in 2020. This latest funding round follows a previous successful round in January, where Rebellions secured US$124 million in investments. Notably, this recent funding marks the first investment made by a Saudi VC firm, which is state-owned through Aramco.

CEO Sunghyun Park expressed the importance of this strategic investment, stating, "This strategic investment is pivotal as it not only accelerates our growth but also enhances our global business opportunities, particularly in the Kingdom of Saudi Arabia, where AI technology investment is thriving." The company also revealed plans to establish a subsidiary in Saudi Arabia, further solidifying its presence in the region.

Fahad Alidi, managing director at Wa'ed Ventures, emphasized the significance of the investment in fostering innovation within the semiconductor industry. He highlighted the sector as a strategic focus area in Saudi Arabia's vision for technological advancements, underscoring the alignment between Rebellions' goals and the country's objectives.

Rebellions, founded in 2020, specializes in AI inference accelerators and is gearing up to launch its third chip, named Rebel, in the second half of 2024. The company has partnered with Samsung Foundry to facilitate the development and production of this upcoming chip, showcasing its commitment to advancing AI technology and staying at the forefront of innovation.

With a strong focus on expanding its global footprint and driving technological advancements, Rebellions is poised for continued growth and success in the competitive AI chip market. The recent funding injection not only provides the company with the necessary resources to fuel its expansion but also signifies a vote of confidence from investors in Rebellions' vision and capabilities.