Oxmiq Closes $35M Round Led by Samsung and Fudomo
AI chip startup Oxmiq has announced a $35 million funding round, led by Samsung Catalyst Fund (a venture arm of Samsung) and Fudomo. Also participating were Taiwan-based chip powerhouse MediaTek and Pegatron Venture Capital. This brings Oxmiq's total disclosed funding to $60 million. The proceeds will primarily accelerate the completion of its first IP modules, go-to-market initiatives, and aggressive hiring of engineering talent.
Founder Background: Raja Koduri, Former Intel Chief Architect
Oxmiq was founded in 2024 by Raja Koduri, who previously served as Intel's chief architect and was the driving force behind Intel's Arc GPU and Xe architecture. Earlier in his career, Koduri held key roles at AMD, where he led graphics and computing strategy. With deep experience across three of the world's largest chip companies, Koduri established Oxmiq in Campbell, California, to focus on AI accelerators and heterogeneous computing.
Technical Approach: Unified IP Core of GPU, CPU, and Tensor Engine
Oxmiq's core strategy revolves around integrating GPU, CPU, and tensor engine components into a single licensable IP block. Beyond the standalone IP, the company is developing a unified compute architecture that combines chiplets with memory, targeting high-efficiency, low-latency AI inference and training workloads. This approach shares similarities with AMD's chiplet strategy and Intel's tile architecture, but Oxmiq emphasizes modular licensing and customer-specific customization.
Market Positioning and Competition: Taking on Broadcom, Marvell, and MediaTek
Rather than directly competing with Nvidia or AMD in the data-center GPU market, Oxmiq targets the custom chip (ASIC) segment and specific vertical applications. Koduri has publicly described Oxmiq as aiming to become "the next ARM"—meaning it will enable a broad ecosystem of partners through IP licensing rather than manufacturing its own silicon. This puts it in direct competition with custom-chip giants like Broadcom, Marvell, and MediaTek. Oxmiq's differentiation lies in offering a more complete heterogeneous compute IP by integrating three computing units, while maintaining an open licensing model.
Industry Impact and Outlook
The simultaneous involvement of Samsung's venture fund and MediaTek signals growing interest from Asian semiconductor capital in fundamental AI infrastructure innovation. As AI inference demand expands from the cloud toward the edge, the need for efficient, customizable chip IP is rising. If Oxmiq can tape out its first IP and secure customer orders by 2027, it has the potential to become a significant player in the custom-chip arena. Koduri's industry reputation and technical pedigree add strong credibility to the venture.
It's worth noting that this funding round comes amid a global surge in chip investments. While U.S. export controls create uncertainties, the IP licensing and custom chip business model is less directly impacted and may even benefit from substitution demand among non-U.S. suppliers. The successful close of this round reflects investors' confidence in the Koduri-led team and the "IP + chiplet" philosophy.