South Korean AI semiconductor startup Rebellions has secured a strategic investment of 15 million USD from Wa’ed Ventures, the venture capital arm of Saudi Arabia’s state-owned oil company, Aramco.

This marks the first time a South Korean semiconductor company has received such an investment from Aramco, paving the way for Rebellions’ entry into the Middle Eastern AI market. Wa’ed Ventures is known for supporting leading tech startups globally by providing financial backing, fostering partnerships, and connecting them to a global network to facilitate their growth. Following this strategy, Wa’ed Ventures plans to assist Rebellions in establishing a presence in the local AI market and expanding its business footprint.

With this successful investment, Rebellions expects to accelerate its entry into Saudi Arabia and expedite ongoing business discussions with Aramco. Additionally, the Saudi government’s recent efforts to achieve “Sovereign AI” by building its own AI infrastructure and services have created a favorable environment for startups with advanced AI technologies. Leveraging this supportive landscape, Rebellions plans to establish a local subsidiary in Saudi Arabia and aggressively target the Middle Eastern AI market.

Fahad Alidi, CEO of Wa’ed Ventures, stated, “We are delighted to support Rebellions’ journey towards advancing AI chip technology in Saudi Arabia. The semiconductor industry is a key focus of Saudi Arabia’s strategic technological vision, and this investment demonstrates our commitment to fostering innovation in this sector.”

Sung-Hyun Park, CEO of Rebellions, remarked, “Aramco’s investment is a significant milestone for Rebellions’ market expansion, especially given Saudi Arabia’s aggressive investments and partnerships to enhance its AI competitiveness. We aim to continue the legacy of our predecessors who achieved export success in the Middle East, using our AI and semiconductor technology.”

Rebellions has also actively attracted investments from international investors, including Pavilion Capital from Singapore’s Temasek, Korelya Capital from France, and DG Daiwa Ventures from Japan, positioning itself for global expansion. Earlier this year, Rebellions secured 165 billion KRW in Series B funding, achieving the highest cumulative investment among domestic AI semiconductor companies. With this latest investment, Rebellions’ total cumulative investment is approaching 300 billion KRW.