Rimal Semiconductors Secures Bridge Funding to Expand Saudi Chip Design Operations
Rimal Semiconductors, a Saudi chip design startup, has obtained bridge funding from Keheilan Asset Management and an undisclosed investor to enhance its position in the semiconductor supply chain. The funding will aid in building a fabless semiconductor business that designs chips while outsourcing manufacturing. Rimal has partnerships in Taiwan, Korea, and China, and is exploring collaborations with US foundries. The startup is also finalizing a distribution agreement across Turkey, Egypt, Morocco, Tunisia, and the UAE, with six contracts in the pipeline, including one with an Egyptian corporation.
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Rimal Semiconductors has raised bridge funding from Keheilan Asset Management and an undisclosed investor to strengthen its role in the global semiconductor supply chain. The funding will help establish a fabless business model that focuses on chip design while outsourcing manufacturing to international foundries.
Currently, Rimal has manufacturing partnerships in Taiwan, Korea, and China, and is negotiating with US foundries. The company aims to maintain Saudi ownership of its intellectual property and distribute manufacturing across its partners.
Additionally, Rimal is finalizing a distribution agreement with a regional distributor covering Turkey, Egypt, Morocco, Tunisia, and the UAE, supporting local engineering teams. The startup has six contracts underway, including one with a major Egyptian corporation.
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