Rebellions, a South Korea-based artificial intelligence (AI) chipmaker, has on Tuesday announced it has closed its Series B funding round, securing $124 million.

This investment leads Rebellions to the forefront as South Korea’s most funded semiconductor startup, with a total raise of over $200 million, Rebellions said in a statement.

According to the statement, the funding was led by KT, South Korea’s premier datacenter corporation, and included notable participation from KT’s subsidiary kt cloud and Shinhan Venture Investment.

The round was also boosted by global investors, with Temasek’s Pavilion Capital, making a follow-on investment.

New investors include Koreyla Capital from France and DGDV from Japan, marking a global endorsement of Rebellions’ technological and strategical excellence.

Many of follow-on investor as well as fresh investors participated in this round: KDB(Korea Development Bank), Noh& Partners, KB Securities, KB Investment, SV Investment, Mirae Asset Venture Investment, Mirae Asset Capital, IMM Investment, KT Investment, Seoul Techno Holdings(Investment company of Seoul National University), Oasis PE, Gyeongnam Venture Investment, and SDB Investment.

The new capital from the investment will empower Rebellions to attract more talents and accelerate the development of Rebel, the company’s next-generation AI chip designed for running Large Language Models (LLMs) with Samsung Electronics.

As its second chip ATOM gears up for mass production this year, Rebellions said the firm is set to expand its customer base both in South Korea and globally.

“In a tough investment climate, our investors have shown remarkable confidence by committing $124 million, solidifying our status as South Korea’s premier AI chipmaker and demonstrating Rebellions’ further potential,

“This investment is a robust foundation for expanding our global presence, particularly in markets like the U.S. and Japan, and will accelerate the pace of our global business strategies and next-gen product development,” said Sungkyue Shin, Chief Financial Officer of Rebellions.

South Korean AI chipmaker Rebellions closes $124M Series B fundraise