FuriosaAI Completes KRW 820 Billion Series D Funding at Valuation of Approximately KRW 3.8 Trillion
South Korean AI chip company FuriosaAI announced on October 29 that it had completed a KRW 820 billion Series D funding round. Due to strong demand from domestic and international investors, the fundraising target was raised from the original KRW 450 billion to KRW 750 billion to KRW 820 billion, with a post-money valuation of approximately KRW 3.8 trillion. The South Korean government's National Growth Fund contributed KRW 370 billion as the largest investor, while overseas investors include Infinitum, which previously co-led Groq's $650 million funding round, and Singapore-based QUDA Capital Partners. The funds will mainly be used to expand supply capacity for the second-generation NPU Renegade (RNGD) and to jointly develop a third-generation AI accelerator for the hyperscale data center market with U.S.-based Broadcom.
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The funding amount was raised from the original target to KRW 820 billion, and it was disclosed that the third-generation accelerator is being jointly developed with Broadcom, offering insight into South Korea's AI chip production capacity and data center layout.
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A server powered by FuriosaAI’s RNGD NPU. (Photo: FuriosaAI)
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FuriosaAI, a fabless artificial intelligence (AI) semiconductor company, said on Oct. 29 that it had completed an 820 billion won Series D funding round.
Strong demand from domestic and overseas investors prompted the company to raise its fundraising target from the original range of 450 billion to 750 billion won to 820 billion won. Its pre-money valuation was 3 trillion won, bringing its post-money valuation to approximately 3.8 trillion won.
The largest investor was the National Growth Fund. The South Korean government committed 370 billion won to support the development of the AI semiconductor industry and expand computing infrastructure. Overseas investors included Infinitum, an investment firm that co-led a $650 million funding round for US AI chip company Groq in June. Singapore-based technology investment firm QUDA Capital Partners also participated.
Follow-on investments from existing shareholders totaled 170 billion won. Nextrans made the largest additional investment among existing shareholders at 48 billion won, while Korea Development Bank invested another 30 billion won. All three seed investors—Naver, DSC Investment and KDB Capital—also participated in the round.
The Export-Import Bank of Korea joined as a new investor, marking its first direct investment in a venture company since its establishment. UAMCO committed 40 billion won, the largest amount among new domestic investors. Hanwha Asset Management also participated through its deep-tech investment fund.
The proceeds will primarily be used to expand supply capacity for FuriosaAI’s second-generation neural processing unit (NPU), Renegade (RNGD), and develop a third-generation AI accelerator jointly with US-based Broadcom. The third-generation accelerator is designed for the hyperscale data center infrastructure market. FuriosaAI plans to maximize system scalability and performance per watt using its proprietary computing architecture.
FuriosaAI began mass production of RNGD in January this year. The company established a technology validation partnership with LG AI Research and launched an NPU-as-a-Service (NPUaaS) offering that allows customers to rent hardware accelerators in Samsung SDS’s cloud environment. It also supplied RNGD chips to Upstage.