KRW 820B Pours Into Homegrown FuriosaAI... U.S. Heavyweights Flock as Valuation Soars to KRW 3.8T

Valuation reaches KRW 3.8 trillion
Global investors and early shareholders join
Developing next-generation chip with Broadcom

FuriosaAI, a South Korean artificial intelligence (AI) chipmaker, has closed a Series D funding round totaling KRW 820 billion. Having completed its domestic and international fundraising efforts, which began after the National Growth Fund approved its investment in May 2026, the company plans to accelerate mass production of its chips and expand its overseas customer base.

FuriosaAI said on October 29 that it had raised KRW 820 billion, exceeding the KRW 450 billion to KRW 750 billion target it set in January 2026. Its valuation rose from KRW 3 trillion before the investment to approximately KRW 3.8 trillion afterward.

The largest investor, the National Growth Fund, invested KRW 370 billion. The investment had already been approved by the fund's management deliberation committee on May 28, 2026. FuriosaAI then sought matching investments and completed the round after bringing in investors from Korea and abroad.

Among overseas investors, U.S.-based Infinitum, an investor in AI chip company Groq, participated with the largest investment. Singapore-based QUDA Capital Partners and Cisco Investments also joined the round. Follow-on investments from existing shareholders totaled KRW 170 billion, including KRW 48 billion from Nexttrans and KRW 30 billion from the Korea Development Bank. All three seed investors—Naver, DSC Investment, and KDB Capital—also participated.

New domestic investors included the Export-Import Bank of Korea, UAMCO, and Hanwha Asset Management. The Export-Import Bank of Korea selected FuriosaAI for its first direct investment in a venture company since its establishment, while UAMCO invested KRW 40 billion.

The funds will be used to expand production and supply of RNGD (Renegade), the company's second-generation neural processing unit (NPU), secure global customers, and strengthen its software ecosystem. FuriosaAI, which began mass-producing RNGD in January 2026, has been working with LG AI Research on technical validation and commercialization. Its applications are also expanding, including the launch of Samsung SDS's RNGD-based neural processing unit-as-a-service (NPUaaS) and Upstage's provision of a search-summary service for Daum.

The company is also developing a third-generation AI accelerator in collaboration with Broadcom. Targeting the hyperscale AI infrastructure market, it plans to improve performance, power efficiency, and system scalability.

CEO Baek Junho said, "We have reached the stage where we can bring the technology we have developed to the global AI infrastructure market in earnest. We will accelerate the global commercialization of RNGD and the development of next-generation products, offering a new option in the AI infrastructure market with high-performance, energy-efficient AI chips."

This content was produced with the assistance of AI translation services.