# Oxmiq Funding: Raja Koduri's Chip Startup Raises $35M Series A

> Oxmiq Labs raised a $35 million Series A in July 2026, co-led by Fundomo and Samsung Catalyst Fund, bringing founder Raja Koduri's total raised to $60 million. Here's the breakdown.

_[Wortins Blog](https://www.wortins.com/blog) · Published Wednesday, July 8, 2026_

**Oxmiq Labs raised $35 million in a Series A round, announced July 1, 2026, co-led by Fundomo and Samsung Catalyst Fund.** The round brings the total capital raised by Raja Koduri's chip architecture startup to $60 million and will fund the commercial rollout of OxCore, its licensable GPU and AI silicon design.

Here's what the raise actually covers, who's backing it, and why a company that doesn't manufacture a single chip is pulling in serious money.

## What is Oxmiq Labs?

Oxmiq Labs is a chip architecture company, not a chipmaker. It was founded by **Raja Koduri**, the GPU veteran who ran graphics and accelerator engineering at AMD, spent time at Apple, and later served as Intel's chief architect overseeing the Arc consumer GPUs and Ponte Vecchio data center accelerators before leaving in 2022. Oxmiq emerged from roughly two years of stealth development before going public in mid-2025.

The company's core product is **OxCore**, a licensable architecture that folds GPU, CPU, and tensor-engine functions into a single IP block. Instead of building and selling physical chips, Oxmiq licenses the design itself — semiconductor companies and AI system builders can use OxCore to create custom AI silicon without running a full, multi-year chip design program from scratch. Reporting on the company has also pointed to a RISC-V-based approach aimed at letting CUDA-style workloads run on non-Nvidia hardware, part of a broader pitch to lower the barrier to building AI-specific chips.

It's an IP-licensing model closer to Arm's than to Nvidia's or a fabless chipmaker's — which shapes both the funding story and what "success" looks like for the company.

## The raise

The key numbers from the July 2026 announcement:

- **Amount:** $35 million
- **Round:** Series A
- **Announced:** July 1, 2026
- **Total funding to date:** $60 million (including a prior seed round backed by Tenstorrent and MediaTek)
- **Valuation:** not disclosed

No valuation figure has been made public for this round, which is typical for Series A chip-architecture deals where most of the value is still tied up in unproven commercial traction rather than revenue.

## Who invested in Oxmiq?

The Series A was **co-led by Fundomo and Samsung Catalyst Fund** — Samsung's corporate venture arm, whose participation signals interest from a company that is itself both a chip designer and a potential OxCore licensee. Other participants included:

- **MediaTek** (also a seed investor, and a major fabless chip designer in its own right)
- **AM Intelligence Labs**
- **Pegatron Venture Capital**
- **CDIB-TEN**
- **Darwin Ventures**
- **Morgan Creek Digital**

The presence of MediaTek and Pegatron — both deeply embedded in the existing chip and device supply chain — is the most telling part of the cap table. These aren't generalist AI funds chasing a hot founder; they're strategic players who would plausibly become OxCore customers or manufacturing partners down the line.

## What the money is for

According to the company, the capital will go toward three things: **scaling the OxCore architecture**, **completing the first batch of licensable IP for commercial release**, and **expanding the engineering team** to move faster on business development. Koduri has framed the pitch around lowering the cost of entry for custom AI silicon, saying the goal is a licensable core with an open architecture so that "design teams everywhere can build the custom AI silicon their work needs."

In practice, that means the near-term milestone to watch isn't a chip shipping — it's whether Oxmiq lands paying licensees who commit OxCore into their own silicon roadmaps.

## Why it matters

Oxmiq's raise is a useful data point on where AI chip money is going in 2026, for three reasons:

1. **The IP-licensing model is getting funded, not just fabless startups.** Most AI chip funding headlines go to companies building physical accelerators. Oxmiq is a bet that the bigger opportunity is selling the *architecture* to everyone who wants custom silicon but can't afford to design one from zero.
2. **Strategic investors are hedging their own chip roadmaps.** Samsung, MediaTek, and Pegatron backing an architecture licensor rather than a single chip product suggests these players want optionality — a way to tap custom AI silicon designs without betting entirely on one internal program.
3. **A known GPU architect still commands capital, even without a shipped product.** Koduri's track record at AMD, Apple, and Intel is doing real work here; $60 million raised across two rounds for a licensing business is a meaningful vote of confidence before any commercial IP has shipped.

Oxmiq is a small round next to the billion-dollar infrastructure raises dominating AI funding headlines, but it's a sharper signal about where the custom-silicon race is actually heading: toward architecture as a product, not just chips as a product.

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*Tracking AI chip funding? See Wortins' broader look at [AI chip startup funding in 2026](/blog/ai-chip-startup-funding-2026), or follow every major raise in the [AI Funding Tracker](/funding).*

## Frequently asked questions

### How much did Oxmiq Labs raise?

Oxmiq Labs raised $35 million in a Series A round announced on July 1, 2026, bringing its total funding to $60 million including a prior seed round.

### Who led Oxmiq's funding round?

The Series A was co-led by Fundomo and Samsung Catalyst Fund, with participation from MediaTek, AM Intelligence Labs, Pegatron Venture Capital, CDIB-TEN, Darwin Ventures and Morgan Creek Digital.

### What does Oxmiq Labs do?

Oxmiq Labs designs OxCore, a licensable GPU and AI chip architecture that lets semiconductor firms and AI system builders create custom silicon without running a full, ground-up chip design program.

### Who founded Oxmiq Labs?

Oxmiq Labs was founded by Raja Koduri, the GPU architect who previously led graphics and accelerator chip efforts at AMD, Apple, and Intel, where he served as chief architect and general manager of the Accelerated Computing Systems and Graphics group.

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