SANTA CLARA: ChipAgents closed an oversubscribed $50 million Series A1 round today, bringing total capital raised to $74 million as the Santa Clara-based startup scales its agentic AI platform for semiconductor design. Matter Venture Partners, a TSMC-backed HardTech venture firm, led the round with participation from Bessemer Venture Partners, Micron, MediaTek, and Ericsson. Wen Hsieh, Founding Managing Partner of Matter Venture Partners, joins the board.
The platform deploys coordinated AI agents that autonomously read specifications, generate register-transfer level code, create verification assets, and perform root-cause debugging across complex chip programs.
ChipAgents reports 15x faster specification comprehension, 240x reduction in formal assertion generation time, and 100 percent code and functional coverage through automated formal verification in live production environments at Tier-1 semiconductor companies.
Founded in 2024 by CEO William Wang, ChipAgents has achieved 140x year-over-year annual recurring revenue growth and expanded deployments to 80 leading semiconductor firms, securing several multi-year, multi-million-dollar licensing agreements. The company scaled from 10 to 46 employees and recently relocated from Santa Barbara to a new headquarters in Santa Clara, positioning itself at the center of the global semiconductor ecosystem.
Previous
