UK-based AI chip startup OLIX has raised $312 million in Series B funding at a $3.3 billion valuation. The round was led by Fundomo, with participation from Arm, Hudson River Trading, and angel investor Reed Hastings, co-founder of Netflix. Existing investors, including Hummingbird Ventures, Crane, Plural, Creandum, Phoenix Court, and Transition, also increased their commitments.
- Founded in 2024 by James Dacombe, OLIX is building a new generation of AI infrastructure focused on inference, the process of running AI models and generating outputs. The company aims to challenge the dominance of general-purpose AI chips by developing specialised silicon and optical networking technology tailored for AI workloads.
- OLIX argues that the current AI infrastructure model, where large-scale AI systems rely on general-purpose chips, is reaching its limits. Instead, the company is developing a “token factory” approach, where different stages of AI model processing are handled by specialised chips connected through high-speed optical networks.
- Its first product, DX-1, is a decode accelerator designed for AI inference workloads. The chip is part of OLIX’s X-1 platform, which distributes AI models across multiple chips to improve performance and energy efficiency while reducing reliance on constrained components such as high-bandwidth memory and advanced packaging.
Details of the deal
- The investment will enable the firm to accelerate the development and manufacturing of its AI chips, scale its engineering teams, and prepare for the delivery of its first products to customers.
- OLIX plans to bring its first AI systems to customers by H2 2027 and expand its custom silicon platform across its offices in London, Bristol, Austin, Toronto, and San Francisco.
