KoreaFuriosaAI closes record 820 billion won Series D at 3.8 trillion won valuation

AI chip startup FuriosaAI closed an 820 billion won (about $570 million) Series D, the largest startup funding round in Korean history, Money Today reported on Oct. 31. It beat the top of its 450-750 billion won target and values the company at about 3.8 trillion won.

The National Growth Fund anchored it with 370 billion won, about 45%, followed by the Korea Development Bank (30 billion won), Naver, DSC Investment, KDB Capital and Hanwha Asset Management; earlier backers DSC, KDB Capital and Naver followed on.

Funds go to mass production of the second-generation inference chip RNGD and next-generation accelerators. RNGD handles up to 512 trillion operations per second at 180 watts. It entered mass production on TSMC's 5nm process in January, with 20,000 units planned this year and more than 40,000 in 2027; Samsung SDS and LG AI Research validated it. The third-generation chip, co-developed with Broadcom, uses a 2nm process and HBM4.