UK AI chip startup OLIX secures $312 million Series B, valuation hits $3.3 billion

London‑based AI hardware startup OLIX raised $312 million in a Series B round, lifting its post‑money valuation to $3.3 billion. The round was led by New York venture fund Fundomo and included participation from Arm, Hudson River Trading, Netflix co‑founder Reed Hastings, and the UK government’s Sovereign AI venture fund. Existing backers such as Hummingbird Ventures, Creandum and Transition also increased their commitments.

Founded in 2024 by James Dacombe, OLIX develops specialised AI inference chips that replace general‑purpose GPUs with purpose‑built processors. Its flagship DX‑1 decode accelerator uses a photonic Optical Tensor Processing Unit and a “slow and wide” optical interconnect to improve token‑generation efficiency. The company plans to deliver the DX‑1 chip to launch customers in the second half of 2027 and to sell it as part of a server‑rack solution.

The UK government’s investment marks the fifth equity deal for the Sovereign AI fund, aiming to keep advanced semiconductor technology and high‑skill jobs in Britain. AI Minister Kanishka Narayan said, “The future of AI will be built on chips that power models… If we want Britain to lead in AI, we need to back the technologies that sit underneath it.” New appointments include former Wise CFO Matt Briers as chief financial officer and Stanford professor and ex‑Intel executive Nick McKeown to the board.