Wa’ed Ventures, Aramco’s venture capital arm, invested $15 million in South Korean startup Rebellions, an AI chips developer. The investment came as an extension of a Series B round that the company announced in January after raising $124 million.

Why it Matters? Rebellions will open an office in Saudi Arabia, while it is preparing to launch its third chip in cooperation with Samsung.

More to Know:

• Rebellions was founded in 2020 and has raised over $225 million since its inception. The company specializes in AI inference accelerators that offer superior energy efficiency and low-latency performance.
• The investment is the first for Wa’ed Ventures in South Korea.
• The company will use the funds to open a regional headquarters in Saudi Arabia by establishing a subsidiary.
• Rebellions has already launched two AI chips called Ion and Atom.
• The company is working with Samsung to mass-produce a third chip called Rebel.
• The investment in less than a week after Waed Ventures announced the investment round for US-based AI company aiXplain.