South Korean semiconductor firm FuriosaAI has raised $125 million in a Series C bridge round. The funding was supported by the Korea Development Bank, Industrial Bank of Korea, Keistone Partners, and Kakao Investment. This new capital brings the company's total funding to $246 million and its current valuation to approximately $735 million.
The company develops specialized hardware to address the high power consumption and operating costs associated with traditional GPU-based systems from competitors like Nvidia. FuriosaAI's architecture is designed to provide a more efficient and sustainable alternative for demanding AI inference workloads in modern data centers.
Consequently, the company recently secured a major design win with LG AI Research. Its RNGD chip demonstrated 2.25 times better performance-per-watt for large language models compared to legacy GPUs.
Scaling Production and Team Growth
FuriosaAI will use the new funds to accelerate the mass production of its RNGD AI accelerator chip. The company plans to support a growing list of global enterprise customers. Furthermore, the capital will lay the groundwork for the development of its next-generation chip, positioning it against other hardware startups like Groq and Cerebras.
To steer this growth, the company has also expanded its executive team. Jeehoon Kang, an expert in parallel systems, joins as Chief Research Officer to lead compiler and software architecture. Additionally, former Samsung Corporate Vice President Youngjin Cho has been appointed Vice President of Hardware to oversee chip development.
