OXMIQ Labs announced the close of its $35 million Series A financing round, bringing the company’s total capital raised to $60 million. OXMIQ is a unified GPU and AI architecture company founded by Raja Koduri.
The funding will be used to scale OxCore, OXMIQ’s licensable GPU architecture that enables semiconductor companies and AI system builders to create custom AI silicon without having to launch a full chip program.
The Series A round was co-led by Fundomo and Samsung Catalyst Fund, with participation from MediaTek, AM Intelligence Labs, Pegatron Venture Capital, CDIB-TEN, Darwin Ventures, Morgan Creek Digital, and other financial and strategic investors.
OXMIQ’s expertise spans the full AI stack, including renewable power, data center infrastructure, silicon IP, electron-to-token machines, and software for AI factories and agents. The company was founded to re-architect the GPU stack from “Atoms to Agents” by building silicon IP, configurable systems, and software platforms that can help semiconductor companies and AI infrastructure builders lower the cost of intelligence across the stack.
At the center of OXMIQ’s architecture is OxCore, a scalable and licensable GPU core that integrates three compute engines: a CUDA-compatible GPU engine, a tensor processing engine, and an orchestration engine responsible for coordinating workloads and agents across the system. OxCore tightly combines compute functions that are typically split across three chips and is designed for near-memory compute to reduce data movement and improve energy efficiency for AI workloads.
OxCore is built for scalability, ranging from single-core AI deployments to large-scale data center configurations. The technology is currently running on FPGA, with live demonstrations available.
OXMIQ has also developed OxQuilt, a chiplet integration architecture that combines heterogeneous compute chiplets and memory in a single package. While many AI silicon designs are tied to a specific foundry and memory type, OxQuilt is designed to adapt across supply chains. Its configuration tools enable customers to design across logic process nodes, memory types, interconnect standards, and advanced packaging options.
The company pairs its hardware architecture with a software stack that spans OxCapsule for high-level orchestration and low-level kernel optimization. OxPython enables existing CUDA and PyTorch code to run on OxCore without code changes, giving developers portability across hardware. OxPython has been validated on third-party platforms, with live demonstrations available.
OXMIQ’s IP-first business model is designed for capital efficiency. By focusing on new architecture IP instead of full system-on-chip development, the company can generate revenue from customer engagements while preserving capital to continue building out its stack.
Along with the financing, OXMIQ has expanded its board and advisory team. Jim Keller, CEO of Tenstorrent and a widely recognized chip architect, has joined the company’s board of directors alongside existing board member Dr. Ker Zhang. Dr. Valluri “Bob” Rao, a former Intel process technology Fellow, has joined as an advisor.
OXMIQ is working with semiconductor companies, neoclouds, AI system builders, and physical AI and robotics companies that want to own their compute roadmap. The company is headquartered in Campbell, California, and has a development site in Hyderabad, India.
KEY QUOTES:
“We are very excited to co-lead OXMIQ’s financing round and back Raja Koduri and the strong team at OXMIQ. OXMIQ’s novel AI core and software platform enable heterogeneous compute for efficient, custom inference solutions serving large-scale agentic workloads.”
David “Dede” Goldschmidt, SVP & Managing Director, Head of the Samsung Catalyst Fund
“Raja has built silicon at every layer of the stack, and he knows exactly where the constraints sit. Most compute IP makes the customer bend their memory, packaging, and foundry around the chip. OXMIQ does the opposite, and that flips a cost center into leverage. We backed this team because they will define how AI compute gets built this decade.”
Rajeev Surati, Partner at Fundomo
“I am excited to join the OXMIQ board. Raja and this team are creating an open GPU architecture, a much-needed step toward removing the artificial boundaries around AI innovation. As the industry concentrates around a few incumbents, this is more important than ever. OXMIQ’s open, configurable foundation, which developers can build on and own, is exactly where compute should be heading.”
Jim Keller, CEO of Tenstorrent and OXMIQ board member
“A licensable core with an open architecture means design teams everywhere can build the custom AI silicon their work needs. Today, state-of-the-art AI reaches most people through a handful of channels, and the cost of the compute underneath is the reason. Bring that cost down, and you widen who gets to build with it. I believe AI is a force for good when it is a tool everyone can pick up and use, not just the few who can afford to build with it. Closing this round with investors who own the supply chain tells us we can get there.”
Raja Koduri, Founder and CEO of OXMIQ
“MediaTek is actively powering today’s advanced AI capabilities from the edge to the cloud. Our investment in OXMIQ underscores this push and combines our AI ambitions with their highly flexible GPU architecture. We see this investment as a way to continue unlocking unprecedented on-device AI performance across all technology platforms.”
Lawrence Loh, SVP of MediaTek
