Etched

Semiconductors · San Jose, CA · Founded 2022 · Privately Held (backing)

Developer of an artificial intelligence-based computing hardware designed to cut LLM inference costs radically, specialized for transformers. Etched is based in San Jose, CA and was founded in 2022. It was valued at $21 billion at its Series D in Aug 2026, the last priced event on record. It has raised $745 million across 5 recorded rounds; the latest was a $700 million Series D in Aug 2026.

PMV mark · valuation
$21.0B
Oct 2026
Priced at
its Series D
Aug 2026
Total raised
$745.0M
Last round
Series D
Aug 2026
Cap table — not yet on record

Etched's share-class structure hasn't surfaced in our sources yet. Cap tables are assembled from certificates of incorporation, round filings, and disclosures as they land.

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Frequently asked about Etched

Where does Etched's cap table come from?
Share classes are assembled from certificates of incorporation, priced-round filings, and disclosures across Etched's 5 recorded funding rounds.