The semiconductor developer, which was founded in 2021, has been grant-funded to date but is now in talks with investors to secure up to £10m, Sky News understands.
An AI-focused chip start-up is in talks to raise millions of pounds of funding amid an explosion in global demand for semiconductors.
Sky News has learnt that RED Semiconductor, which was set up in 2021, is seeking up to £10m to finance its path towards full production. The company, which to date has been grant-funded, is said to have seen strong demand from prospective investors. RED is run by James Lewis, the founder of Oxford Semiconductor and Redux, two other industry players.
It was founded by a team of experienced sector executives and so far has tapped funds from research programmes including Horizon 2020, the EU initiative which Britain has been in talks to rejoin.June: Sunak hails the potential of AIOn Friday, it will announce the signing of a memorandum of understanding with Crypto Quantique to develop a microprocessor chip for Edge-computing applications.
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