Rebellions, a leading AI chip startup, announced Tuesday it has secured a significant 640 billion won ($419 million) in pre-IPO funding. This investment marks the inaugural allocation from the government-backed National Growth Fund.
The funding round combines both public and private investment. Policy financing accounts for 300 billion won, including 250 billion won from the National Growth Fund and 50 billion won from the Korea Development Bank. An additional 300 billion won comes from Mirae Asset Financial Group, serving as the anchor investor for this round.
This deal represents the initial phase of the South Korean government’s “K-Nvidia” initiative, a strategic plan designed to establish South Korea as a global leader in artificial intelligence. The initiative aims to place the nation among the top three AI powerhouses worldwide. As part of a larger effort, 15 trillion won from the 150 trillion won National Growth Fund will be strategically invested over five years to bolster high-growth technology companies.
Mirae Asset’s involvement in the funding round also spurred existing shareholders to exercise their preemptive rights, demonstrating strong investor confidence in the startup’s potential for continued growth and success.
Established in 2020, Rebellions specializes in the development of neural processing units (NPUs) specifically optimized for demanding AI workloads. The company reported a tenfold increase in sales in 2025 compared to 2023, showcasing its early success in commercializing domestically produced AI chips.
Rebellions currently employs approximately 300 individuals and intends to double its workforce as it scales its operations in preparation for a potential future initial public offering (IPO).
“Our growth is a testament to the robust support from the Korean semiconductor ecosystem and government initiatives,” stated CEO Park Sung-hyun. “We are committed to continued expansion and demonstrating the global competitiveness of Korea’s AI chip technology.”
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