UK chip startup Olix raises $312M at $3.3BN valuation
One of the UK’s hottest chip startups has raised over $300m at a $3.3bn valuation, tripling its valuation, and plans to bring its first products to customers next year, it says. Olix, founded by 25-ye...
The UK chip startup Olix has raised $312 million in a Series B round, bringing its valuation to $3.3 billion, a more than tripling of its previous $1.2 billion valuation. Founded by 25-year-old entrepreneur James Dacombe, the company plans to launch its first products next year. The round was led by New York VC Fundomo, with participation from chip giant Arm, quant trading firm Hudson River Trading, and angel investors including Reed Hastings, co-founder of Netflix.
The new investment will be used to bring Olix's chips to market, build out the silicon platform, and fund manufacturing and supply chain commitments. Olix is developing an optical digital processor with a novel memory and interconnect architecture compatible with current AI models and supporting AI inference workloads, aiming to challenge Nvidia's dominance in the industry.
Brief written by urgent.news from Tech.eu's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
