Cloud-native AI inference chip startup Rebellions Inc. has raised $400 million in a pre-IPO funding round, boosting its total funding to $850 million and valuation to $2 billion.

Led by Mirae Asset Financial Group and the Korea National Growth Fund, the investment follows a $250 million Series C in September. Rebellions aims to challenge Nvidia and AMD with its software-centric approach to AI hardware.

The company’s Rebel100 NPUs are optimized for performance per watt and designed to run on popular frameworks like PyTorch and Hugging Face. It has introduced new infrastructure offerings: RebelRack and RebelPOD, both built on a Kubernetes-powered, open-source stack.

Rebellions is expanding into the U.S. with new leadership, including Chief Business Officer Marshall Choy, who emphasized speed and compatibility in deploying AI infrastructure.

"We're moving beyond silicon-only thinking," said CEO Sunghyun Park. "The future of AI depends on efficient, scalable, and economical infrastructure."

Choy added that while some firms favor Nvidia, the market is shifting toward heterogeneous computing-using multiple architectures for different AI tasks.

Rebellions plans to accelerate growth ahead of a potential IPO.