Japan’s Rapidus Seeks Another $700 Million in Chipmaking Push
- Government-funded startup is approaching Mizuho, SMBC and DBJ
- Rapidus part of Japan’s campaign to regain leadership in chips
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Japanese chip startup Rapidus Corp. is seeking to raise ¥100 billion ($696 million) from existing and new investors by issuing new shares to finance its chip development efforts.
Rapidus is gauging appetite for investments totaling ¥80 billion from existing shareholders including Toyota Motor Corp., Sony Group Corp., SoftBank Corp. and MUFG Bank, according to people familiar with the matter. It’s also seeking ¥5 billion each from Mizuho Bank and Sumitomo Mitsui Banking Corp. and another ¥10 billion from the Development Bank of Japan, the people said.