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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·Post-money valuations for 3 rounds
·The complete investor list: 57 names
·Everyone on the team, board and advisors included
·Watch Etched: the Monday email on marks, rounds and moves