Rapidus: valuation, funding, and the secondary tape

Japan's state-backed leading-edge foundry, founded Aug 2022 by eight Japanese corporates with NEDO/METI backing. 2nm gate-all-around at IIM-1 in Chitose, Hokkaido: pilot line Apr 2025, first 2nm GAA prototype Jul 2025, mass production targeted 2H FY2027 at 6,000 rising to ~25,000 wafer starts per month. IBM 2nm JDA and chiplet packaging, imec core partner, ASML EUV. 60+ companies in customer talks, one announced design partner (Tenstorrent), no committed volume order as of Jul 2026.

Sector: semiconductors · stage: private · HQ: Tokyo, Japan · founded: 2022 company site

The short version

• 4 filed/seeded rounds on record.

94 Clarity prints, 2026-07-25 to 2026-10-26

Funding rounds on record

All filed/seeded rounds in the graph, newest first; same-month same-amount prints collapse to one line.

Investors on record

Canon, Dai Nippon Printing, IBM, Information-Technology Promotion Agency, Kioxia Holdings, NTT

Supply chain (graph-recorded)

• Depends on: Dai Nippon Printing, ASML Holding
• Customers: Tenstorrent, Canon

Related companies

• Sector peers: Marvell Technology, STMicroelectronics

Recent milestones

• 2026-10-05 - Rapidus launches CORE (Collaborative Open Rapid Ecosystem) and its first phase, the Design Solution Associates group, to help customers star
• 2026-07-09 - Rapidus walks back reported 2nm wafer pricing: because prices vary with customer specifications and exchange rates, the figure reported from
• 2026-07-08 - Roadmap read, Jul 2026: more than 60 companies are in talks over 2nm capacity and NOT ONE has signed a volume agreement; capacity ramps from
• 2026-06-05 - Rapidus completes a JPY 150bn IPA funding round, taking stated capital and legal capital surplus to JPY 424.95bn. State equity now stands at
• 2026-04-11 - Rapidus opens its analysis center and Rapidus Chiplet Solutions — the back-end R&D line inside Seiko Epson's Chitose plant — alongside NEDO'
• 2026-03-03 - Canon commissions prototype 2nm image-processing chips from Rapidus, becoming the first major domestic end user to sign on as a prospective
• 2026-02-27 - Rapidus secures JPY 267.6bn: JPY 100bn of IPA equity plus JPY 167.6bn from 32 private companies (Canon, Development Bank of Japan, Fujitsu,
• 2025-11-01 - Rapidus is selected as official business operator by the Japanese government — the step that unlocked IPA equity investment.
• 2025-07-18 - Rapidus confirms 2nm gate-all-around transistors operate at IIM-1 (300mm wafer shown Jul 18 2025); the company reports a density of 237.31 M
• 2025-04-01 - The IIM-1 pilot line starts operation — the first leading-edge logic line built in Japan in roughly two decades.

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Derived from the SOMEN graph at render time.