Fractile enters talks with Accel to secure over $200m at a $1bn valuation

London based artificial intelligence chip developer Fractile is reportedly in discussions to secure over $200m in funding at a $1bn valuation. The proposed transaction would establish the firm as a prominent domestic alternative to established GPU manufacturers.

The capital raising effort is slated to be led in part by Accel, with participation from the NATO Innovation Fund and Oxford Science Enterprises. Terms remain fluid and final figures have not yet been locked in.

Fractile intends to apply the proceeds toward scaling its operations and expanding its engineering footprint across London and Bristol. The company focuses on static random access memory architectures to optimize inference speed and reduce operational costs.