Rebellions, a South Korean artificial intelligence semiconductor startup, has seen its valuation surpass 3 trillion won ($2.4 billion).
Rebellions said Wednesday it has completed a 640 billion won ($450 million) pre-IPO funding round. The company's cumulative investment raised to date stands at approximately 1.3 trillion won. Rebellions was valued at 3.4 trillion won ($2.4 billion) in the latest round.
The funding round was a joint public-private investment combining government-led policy funds and private capital. On the public side, the National Growth Fund contributed 250 billion won and Korea Development Bank invested 50 billion won, bringing total policy funding to 300 billion won. On the private side, Mirae Asset Group served as the anchor investor at the group level, leading 300 billion won in total private investment. Existing investors also exercised their preemptive rights to purchase new shares.
Rebellions develops inference-specialized AI semiconductor chips known as neural processing units (NPUs). The company's revenue last year grew approximately tenfold compared to 2023. Rebellions plans to use the newly raised capital to aggressively recruit talent and rapidly scale its organization. The company will also ramp up its push into global markets with "Rebel 100," its only domestic big-chip model. Rebel 100 is the new product name for "Rebel Quad" and serves as Rebellions' flagship AI chip. It combines four NPU chiplets with fifth-generation high bandwidth memory (HBM3E) and features computational performance on par with current-generation flagship graphics processing units (GPUs).
"We will now grow our organization to more than double its current size with competitive talent, achieving an even higher level of talent density," CEO Park Sung-hyun said. "We will directly prove our competitiveness at the center of the global AI infrastructure market alongside Korea's AI and semiconductor ecosystem."
Rebellions plans to proceed with its initial public offering process within this year. Park previously held a press conference last year and said the company plans to file for a preliminary IPO review during 2026, with the goal of listing on the Korean stock market before preparing for a Nasdaq listing in the United States.