South Korean semiconductor startup FuriosaAI has raised $125m in Series C bridge funding. The new investment increases the company’s total funding to $246m and places its valuation at $735m.

The financing round included contributions from both new and existing investors, including the Korea Development Bank, Industrial Bank of Korea, Keistone Partners, PI Partners, and Kakao Investment.

Founded in 2017, FuriosaAI is building new type of AI chip for data centres and enterprise customers. Earlier in 2025, the company opted to continue its independent growth by turning down an $800m acquisition offer from Meta Platforms.

FuriosaAI will use the new funding to scale up the production of its flagship AI chip RNGD (pronounced Renegade). The company also plans to initiate the development of its next-generation AI chip.

Recently, LG AI Research adopted the RNGD chip for its EXAONE foundation models.

FuriosaAI CEO June Paik said: “LG AI Research’s adoption of RNGD has validated our chip’s performance and superior energy efficiency.

“Now we are scaling RNGD production globally to meet growing customer demand and applying learnings in the development of our next-generation chip.”

Alongside, FuriosaAI has expanded its executive team by announcing the appointment of Jeehoon Kang as chief research officer and Youngjin Cho as vice president of hardware.

Kakao Investment CEO Do-Young Kim said: “FuriosaAI has built a compelling alternative to GPUs for AI inference. Their Tensor Contraction Processor chip architecture delivers the performance and power efficiency that is critical for the next wave of AI applications.

“They have the right technology and the right team to transform AI hardware, and we are excited to help fuel their growth.”