Founded in 2020, Rebellions aims to be a cost-effective alternative in the AI chip market, challenging giants like Nvidia and Google. Its Rebel chip is projected to cost half of Nvidia’s $30,000 price tag, and it is also developing a data center-focused chip called Atom.
In January, Rebellions completed a $124 million Series B funding round. With the recent extension, the total funding now exceeds $225 million. The extension round was led by Wa’ed Ventures, a $500 million venture capital fund owned by Saudi Aramco, marking its first investment in a South Korean startup.
The new funds will accelerate Rebellions’ chip development and support its expansion into Saudi Arabia by establishing a subsidiary and launching operations in the region.
“We are thrilled to have the support of Wa’ed Ventures. “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. This partnership provides us with a clearer path to expand and innovate in key markets worldwide.”
— Sunghyun Park, Chief Executive Officer of Rebellions
