U.S. VCs Join $260 Million Round For Korean AI Chip Unicorn Rebellions

ByJohn Kang,

Forbes Staff.

Kindred Ventures and Top Tier Capital Partners joined a $260 million funding round for Rebellions, an AI chip unicorn from South Korea.

The round is an extension of Rebellions’ Series C in September, which valued the startup at $1.4 billion. Earlier Series C investors included SoftBank’s Arm Holdings (its first investment in an Asian startup), Samsung Ventures, Pegatron VC, Korea Development Bank, Korelya Capital and Lion X Ventures, a Southeast Asian venture capital firm backed by Singapore’s OCBC Bank.

San Francisco-based Kindred is best known for its investments in Uber, Coinbase and AI search startup Perplexity. The firm was founded in 2018 by Steve Jang, who was born in South Korea and made last year’s Midas List. Top Tier, also based in San Francisco, is a fund of funds that also invests in startups. “Their participation marks Rebellions’ first investment from Silicon Valley venture capital firms, further strengthening our global expansion and presence in the U.S. market,” the startup said in a statement on Monday.