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Olix closes Europe’s largest semiconductor VC round at $3.3B valuation
Olix, backed by investors including Arm and Fundomo, plans to deliver its first chip by H2 2027 after raising a $312 million Series B.
AI chip startup Olix has raised a $312 million Series B at a $3.3 billion valuation, more than tripling its valuation in less than six months and marking Europe’s largest semiconductor venture capital round, according to Yahoo Finance.
The London-based company previously secured a $220 million Series A in February that valued it at around $1 billion. Investors that boosted commitments include Hummingbird Ventures, Crane, and Plural, while new backers joining the cap table include Fundomo, Arm, and Hudson River Trading, alongside angel investor Reed Hastings, a Netflix cofounder.
Founded in 2022 by 25-year-old James Dacombe, Olix is building infrastructure for frontier AI inference, from chips and lasers to the network connecting them. Its focus is on creating more efficient, cheaper, and faster chips, including specialized chips across stages of token production, with its first chip, the DX-1, designed to generate AI text output.
The funding will support delivering the DX-1 to customers by H2 2027 and expanding the wider platform behind it. While public-market sentiment toward semiconductor stocks has been hit by concerns about potential AI spending slowdowns, PitchBook data cited by Yahoo Finance shows more than $16 billion invested in semiconductor startups, with 2026 projected to be 30% above last year’s record pace.