ChipAgents expands funding to $74M for AI-driven IC design
US-based ChipAgents has raised USD 50 million in an oversubscribed Series A1 funding round, bringing its total capital raised to USD 74 million.
The round was led by Matter Venture Partners, a TSMC-backed HardTech VC firm, with participation from existing investors Bessemer Venture Partners, Micron, MediaTek and Ericsson, according to a company press release.
ChipAgents develops what it describes as an “Agentic AI” platform aimed at supporting semiconductor design workflows through coordinated AI agents that can "plan, reason, execute, and continuously improve across complex silicon programs."
The company states that the new capital will be used to scale its platform, expand its engineering and research organisation and accelerate global deployment. As part of the investment, Wen Hsieh, Founding Managing Partner at Matter Venture Partners, will join the company’s board of directors.
ChipAgents reports 140x year-over-year annual recurring revenue growth and says its platform has been deployed at 80 semiconductor companies. The company also states that it has secured several multi-year, multi-million-dollar licensing agreements.
According to the press release, the company has grown from 10 to 46 employees and has relocated its headquarters from Santa Barbara to a 20,000 square foot facility in Santa Clara, California.
