Furiosa AI Secures 820 Billion Won in Series D Funding, Valued at 3.8 Trillion Won

Artificial intelligence semiconductor company Furiosa AI announced on October 29 that it has completed a Series D funding round totaling 820 billion won (approximately $620 million).

The investment was based on a pre-money valuation of 3 trillion won, with the post-investment valuation estimated at around 3.8 trillion won.

Furiosa AI initially aimed to raise between 450 billion and 750 billion won for its Series D funding in January. However, due to strong interest from domestic and international investors, the final amount exceeded expectations, reaching approximately 820 billion won.

This Series D funding is significant as it reflects the confidence of investors in Furiosa AI's technological capabilities and business execution, demonstrated through the development of its proprietary AI semiconductor architecture and the production of products across two generations.

Notably, the 820 billion won raised is one of the largest amounts in the history of South Korean startups and is a noteworthy example of substantial capital raising in the global market.

With the funds secured, Furiosa AI plans to expand the global commercialization of its second-generation AI semiconductor, RNGD (Renegade), while also accelerating the development of next-generation hyperscale AI infrastructure solutions in collaboration with Broadcom.

The National Growth Fund participated as the largest investor in this round, contributing 370 billion won. As the government aims to elevate South Korea to one of the top three AI powerhouses, this significant investment decision by the National Growth Fund is expected to attract more global investors and strengthen Furiosa AI's growth foundation.

This funding round also saw participation from numerous overseas investors with expertise and investment experience in the global AI semiconductor and computing infrastructure sectors.

Among the largest overseas investors was Infinitum from the United States, which co-led a $650 million investment round for Groq in June. Its founder and Chief Investment Officer, John Yetimoglu, has also served on Groq's board.

Existing shareholders made substantial follow-up investments totaling 170 billion won. The Korea Development Bank, a major existing shareholder, contributed an additional 30 billion won. All three seed investors—Naver, DSC Investment, and KDB Capital—also participated in the follow-up investment. DSC Investment has maintained long-term trust by participating in all funding rounds since its initial seed investment in 2017. Naver, which initially invested through its early-stage investment organization NAVER D2SF, followed up with investment through its Silicon Valley-based investment platform, NAVER Ventures.

Among existing shareholders, NextTrans made the largest follow-up investment of 48 billion won, with Kakao Investment also participating. Both institutions reaffirmed their confidence in Furiosa AI's production expansion and global commercialization by deciding to invest again about a year after joining as shareholders during last year's Series C bridge round.

New investments from major domestic financial institutions also followed. The Export-Import Bank of Korea selected Furiosa AI as its first direct investment in a venture company since its establishment and participated in this round. UAMCO invested 40 billion won, becoming the largest new domestic investor, while Hanwha Asset Management, which operates a deep tech-focused fund, also joined as a new investor.

Furiosa AI CEO Baek Jun-ho stated, "This Series D funding marks an important milestone that demonstrates the trust of domestic and international investors in the technological capabilities and business execution that Furiosa AI has accumulated. We will accelerate the global commercialization of RNGD and the development of next-generation products, presenting new options in the AI infrastructure market based on high-performance and high-efficiency AI semiconductors."