Rapidus closed $100000M funding round

Rapidus is reportedly seeking JPY 100 billion (approximately USD 690-700 million) in financing. This funding effort involves approaching major Japanese banks including MUFG Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, and the Development Bank of Japan. Rapidus is also requesting additional investment from its existing shareholders, which include Toyota Motor, Sony Group, and SoftBank, among others. This new financing is in addition to previous government subsidies and initial investments from eight Japanese companies totaling JPY 7.3 billion upon its establishment.

Rapidus Corporation was established in August 2022 by eight major Japanese companies, including Toyota, Sony, NTT, NEC, SoftBank, Denso, Kioxia, and MUFG Bank, with the goal of mass-producing next-generation 2-nanometer semiconductors in Japan by 2027. The company is constructing a factory in Chitose, Hokkaido, and aims to begin pilot production of 2nm chips in 2025. Rapidus is a key part of Japan's strategy to revive its domestic semiconductor industry and ensure a stable supply of advanced chips, with significant financial support already pledged by the Japanese government.