- Companies
- OLIX
Last OLIX valuation
$3.3B
Series B · Aug 2026
Last OLIX funding round
$312M
Series B · Aug 2026
Cumulative funding OLIX raised
$532M
across 2 funding rounds
Key investors in OLIX
Crane Venture Partners
Hummingbird Ventures
Plural Platform
Transition
Fundomo
LocalGlobe
About OLIX
OLIX manufactures optical tensor processing units accelerating AI workloads through light-based circuits for matrix operations in training and inference.
Founded
2024
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$3.3B (Aug 2026)
Sectors
OLIX Valuation
OLIX is currently valued at $3.3B, based on its Series B in August 2026.
The $312M round was led by Fundomo, with participation from Hudson River Trading, Hummingbird Ventures, Plural Platform, ARM, Creandum and 4 other investors.
OLIX's valuation has grown 3.3x from $1B at its Series A in February 2026 to $3.3B in August 2026, across 2 priced rounds.
OLIX valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2026 | Series B | $3.3B |
| Feb 2026 | Series A | $1B |
OLIX Funding History
OLIX has raised a total of $532M across 2 funding rounds.
OLIX's first fundraising round was a $220M Series A in February 2026. The most recent completed round was a $312M Series B in August 2026.
OLIX funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2026 | Series B | Fundomo (lead); Hudson River Trading; Hummingbird Ventures; Plural Platform; ARM; Creandum; Phoenix Court; Transition; Reed Hastings; Crane Venture Partners | $312M | $3.3B | OLIX announced a $312 million Series B financing round at a $3.3 billion valuation, with Arm Holdings participating alongside Fundomo, Hudson River Trading, Reed Hastings, and existing investors increasing their commitments. The company said the capital will be used to expand the custom silicon platform behind its DX-1 and accelerate manufacturing, while external coverage says the round more than tripled OLIX’s valuation from its prior financing in February and that the company remains pre-commercial with chip tape-out expected by the end of 2026 and first customer deliveries in 2027. The financing reflects strategic interest from AI infrastructure investors in OLIX’s optical inference hardware, which is positioned as custom silicon for AI workloads. Reported context indicates the startup had raised $220 million in February at just over a $1 billion valuation before this round, and that the latest financing was led by Fundomo with participation from Arm and Hudson River Trading. Coverage also describes OLIX as scaling its specialized silicon platform and building toward manufacturing and commercialization. OLIX is a London-based AI hardware startup founded two years ago. It develops optical inference appliances and wider custom silicon infrastructure for AI, and its operational roadmap centers on completing tape-out by the end of 2026 and bringing products to customers in 2027. Public reporting indicates the company is still pre-commercial and that existing backers such as Hummingbird Ventures, Crane, Plural, Creandum, Phoenix Court, and Transition increased their commitments in the round. |
| Feb 2026 | Series A | Hummingbird Ventures (lead); Vertex Ventures; Plural Platform; LocalGlobe; Entrepreneurs First; Transition; Fundomo; Crane Venture Partners | $220M | $1B | Olix, a London-based startup founded in 2024 by 25-year-old James Dacombe (formerly Flux Computing), develops photonic AI chips and optical tensor processing units (OTPUs) for AI inference, aiming to provide faster and cheaper alternatives to Nvidia's hardware by using optical digital processors compatible with existing AI models. The company rebranded to Olix Computing Ltd. in January 2026 and plans initial customer deliveries in 2027, focusing on disrupting electrical computing with superior performance and cost-efficiency. Olix raised $220 million in a Series A round in February 2026, led by Hummingbird Ventures, with participation from Plural Platform, Vertex Ventures, LocalGlobe, Entrepreneurs First, and others including Fundomo and Transition, achieving a post-money valuation of approximately $1 billion and unicorn status. This brought total funding to $250 million, including a prior round. Investors highlighted Olix's potential to address compute shortages and physical limits of current hardware, with Plural's Taavet Hinrikus emphasizing its vision for inference-era compute at scale. The funds will accelerate engineering, tape-out of custom ASICs, integration of optical, electronic, and software systems, and delivery of production-ready systems. Olix has grown from a two-person founding team to over 70 employees, targeting over 200 hires in 2026 across London, Bristol, Austin, San Francisco, and Toronto. In the competitive AI chip landscape, Olix positions itself against US players like Cerebras (valued at $23B after $1B raise) and D-Matrix ($450M raised), as well as UK efforts like Arm (SoftBank-owned) and acquired Graphcore. The round underscores strong investor confidence in UK deep tech, with Hummingbird's track record in Revolut and Deliveroo, and Plural's focus on early-stage AI. |
Who has invested in OLIX?
13 investors have backed OLIX across its funding rounds, including Crane Venture Partners, Hummingbird Ventures, Plural Platform, Transition, Fundomo and LocalGlobe.
Lead investors include Fundomo and Hummingbird Ventures.
OLIX Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Feb 2026 | ||
| 2 | Participant | Feb 2026 | ||
| 2 | Participant | Feb 2026 | ||
| 2 | Lead | Feb 2026 | ||
| 2 | Participant | Feb 2026 | ||
| 1 | Participant | Aug 2026 | ||
| 1 | Participant | Feb 2026 | ||
| 1 | Participant | Feb 2026 | ||
| 1 | Participant | Aug 2026 | ||
| 1 | Participant | Aug 2026 | ||
| 1 | Participant | Aug 2026 | ||
This data is available for Pro users. Sign up to see all 13 OLIX investors. Start Free Trial | ||||
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Start Free TrialOLIX Competitors
OLIX competitors include listed companies like ChronoScale and Ionic Digital, and private ones like Kunlun Core, SiFive, Sunrise and Xsight Labs.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $507M | - | $3B | 6.0x | ||
| Private | $116M | - | $3.6B | - | ||
| Private | - | - | $3B | - | ||
| Publicly listed | $72M | $21M | $2.9B | - | ||
| Publicly listed | $141M | ($248M) | $3.8B | - | ||
| Private | - | - | $2.8B | - |
OLIX Public Comps
OLIX is still privately-owned, but its public comps include ChronoScale, Ionic Digital, Xanadu, SharonAI, Silex Microsystem, IQM Quantum Computers, Pasqal, Boost Run, POET Technologies and Core Scientific.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $72M | $21M | 42.5x | - | 147.6x | - | |||
| $141M | ($248M) | 25.4x | - | (14.5x) | - | |||
| $3M | ($47M) | 629.3x | 281.8x | (44.6x) | (24.7x) | |||
| $2M | ($36M) | 752.3x | 13.7x | (32.7x) | 46.2x | |||
| $141M | $49M | 12.3x | - | 35.5x | - | |||
| $36M | ($48M) | 46.9x | - | (35.2x) | - | |||
| $19M | ($92M) | 91.5x | - | (18.9x) | - | |||
| $27M | ($4M) | 58.1x | 11.8x | (419.7x) | 25.1x | |||
This data is available for Pro users. Sign up to see all OLIX competitors and their valuation data. Start Free Trial | ||||||||
Common questions about OLIX
| When was OLIX founded? | OLIX was founded in 2024. |
| Where is OLIX headquartered? | OLIX is headquartered in United Kingdom. |
| Is OLIX publicly listed? | No, OLIX is a private, VC-backed company. |
| What is OLIX's valuation? | OLIX was last valued at $3.3B in its Series B in August 2026. |
| How much funding has OLIX raised? | OLIX has raised $532M across 2 funding rounds. |
| What was OLIX's last funding round? | OLIX's last funding round was a $312M Series B in August 2026, led by Fundomo. |
| Who are OLIX's investors? | OLIX's investors include Hummingbird Ventures, Plural Platform, Transition, Fundomo, Crane Venture Partners, Hudson River Trading, Vertex Ventures, LocalGlobe, ARM, Creandum and 3 others. |
| Which companies are comparable to OLIX? | Companies comparable to OLIX include Kunlun Core, SiFive, Sunrise, ChronoScale, Ionic Digital and Xsight Labs. |
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