Quick Take
- The OXMIQ Series A raised $35 Mn (Rs 331 Cr), lifting total capital to $60 Mn.
- Samsung Catalyst Fund and Fundomo co-led the round; MediaTek and Intel Capital joined.
- Funds will scale OxCore, its licensable GPU core, toward first customer chips by 2027.
In This Article
The OXMIQ Series A raised $35 Mn (Rs 331 Cr) in a round co-led by Samsung Catalyst Fund and Fundomo, taking the GPU IP startup founded by Raja Koduri to $60 Mn in total capital raised.
OXMIQ builds a licensable graphics processing unit (GPU) architecture. It lets chipmakers and AI system builders create custom AI silicon without running a full, costly chip program. Koduri, a former Intel graphics chief, calls the model an “Arm for AI GPUs” (company announcement).
StartupFeed Insight
The lean raise is the real signal in the OXMIQ Series A. The company took only $35 Mn, not the hundreds of millions a chip firm usually burns, because it licenses IP instead of taping out its own silicon. That capital efficiency is what drew Samsung and MediaTek, both of whom need non-Nvidia options for their own roadmaps. Watch India closely: OXMIQ’s Hyderabad team and its 2-GW AM Intelligence Labs deal give the country a rare seat at the frontier-silicon table. StartupFeed expects OXMIQ to convert at least one licensing engagement into a taped-out customer chip before the end of 2027. By Avinash.
OXMIQ Series A: The Numbers
The OXMIQ Series A is a $35 Mn (Rs 331 Cr) equity round that closed on July 1, 2026, company announcement confirmed. The deal doubles the startup’s lifetime funding within a year of its stealth exit.
| Metric | Detail | Notes |
|---|---|---|
| Total Raise | $35 Mn (Rs 331 Cr) | Series A, company announcement |
| Lead Investors | Samsung Catalyst Fund, Fundomo | Co-led the round |
| Other Investors | MediaTek, Pegatron VC, CDIB-TEN, Darwin Ventures, Morgan Creek Digital, AM Intelligence Labs, Intel Capital | Strategic and financial |
| Previous Round | $20 Mn (Rs 189 Cr) seed | August 2025, company announcement |
| Cumulative Raised | $60 Mn (Rs 568 Cr) | Total to date |
| Announcement Date | July 1, 2026 | Series A close |
The investor mix is the standout: Samsung, MediaTek, and Intel Capital are all chip firms, not just financiers. Their money signals demand for a GPU design they can license rather than buy.
About OXMIQ
OXMIQ Labs is a GPU and AI architecture company founded by Raja Koduri in 2025. It is headquartered in Campbell, California, with a development site in Hyderabad, India. The company licenses GPU intellectual property (IP) through its flagship OxCore core and OxQuilt chiplet tools. Backers include Samsung Catalyst Fund, MediaTek, and Fundomo. Koduri previously led graphics at AMD, Apple, and Intel.
Why did Samsung back OXMIQ?
Samsung backed the OXMIQ Series A because it wants a licensable path to custom AI silicon that does not depend on Nvidia. The chip giant co-led the round through its Samsung Catalyst Fund, joining strategic peers MediaTek and Intel Capital.
“OXMIQ’s novel AI core and software platform enable heterogeneous compute for efficient, custom inference solutions serving large-scale agentic workloads,” said David Goldschmidt, Head of the Samsung Catalyst Fund.
OXMIQ’s pitch lands at a useful moment. Equipping a 100-MW data centre with current GPUs now costs close to $5 Bn, Koduri told EE Times. Buying wafers direct and building custom silicon can cut that bill sharply, which is exactly the lever OXMIQ hands its licensees.
How will OXMIQ use the funds?
OXMIQ will use the Series A funds to finish its first batch of licensable IP and turn it into shipping products. Koduri said the money also expands the stack into custom data centre hardware, including bespoke silicon (company announcement).
OxCore is running on FPGA today, executing live workloads with the company’s software stack. OXMIQ plans to grow its team from about 45 people toward 60 to 70, keeping headcount below 100. The firm has named “a couple of critical customer engagements” it aims to translate into real chips.
Who does OXMIQ compete with?
OXMIQ competes on a different axis from the dominant merchant GPU vendors, since it sells licensable IP rather than finished chips. Its closest structural peers are IP licensors, not chip sellers.
| Player | Model | Focus |
|---|---|---|
| OXMIQ | Licensable GPU IP | Custom AI silicon, CUDA portability |
| Merchant GPU vendors | Sell finished chips | Data centre AI training and inference |
| Established IP licensors | License CPU/GPU designs | Mobile and embedded graphics |
What sets OXMIQ apart is OxPython, a layer that runs existing CUDA and PyTorch code on non-Nvidia hardware without a rewrite. That portability, already demoed on Tenstorrent chips, is the company’s sharpest edge.
What’s Next
OXMIQ’s near-term milestone is converting its FPGA-proven OxCore into a customer’s taped-out chip. It is also the architecture partner for a 2-GW AM Intelligence Labs AI build in India, with a first 1-GW cluster in Noida due online in late 2027. Can a 45-person startup really become the “Arm for AI GPUs”? The next 18 months will tell.
Frequently Asked Questions
Last updated: July 2, 2026 at 09:30 IST
Written by Avinash. Published: July 2, 2026. Updated: July 2, 2026. Have a tip? Write to us at editorial@startupfeed.in.
