Published: August 5, 2026 at 10:48 am
London-based AI chip startup has been valued at $3.3bn (£2.5bn) Olix after announcing a $312m Series B financing round.
The valuation is remarkable as Olix was only founded in 2024 by 25-year-old James Dacombe – who famously dropped out of sixth form after just two days.
The round included Fundomo, Arm and Hudson River Trading, alongside angel investors including Reed Hastings, the co-founder of Netflix, with existing investors all increasing their commitments.
Olix, which is designing the next generation of AI chips, has also secured backing from the UK Government’s Sovereign AI venture fund.
Based in London and with offices in Bristol, Olix is developing faster, cheaper and more energy-efficient AI chips and is one of the UK’s newest unicorns.
Alongside the round, Olix has appointed Professor Nick McKeown to its board of directors.