B2EN announced on the 9th that Rebellions, the Korean AI chip company in which it has invested, raised USD 400 million in a March pre-IPO round at a valuation of approximately USD 2.34 billion (about KRW 3.4 trillion). Rebellions is using the funds to expand AI inference chips and infrastructure such as RebelRack and RebelPOD globally.
B2EN has invested a cumulative KRW 13 billion in GS New Technology Growth Private Equity Fund, holding 69.13% of the fund at the end of June. This is B2EN's stake in the fund, not a direct ownership percentage in Rebellions.
The relationship extends beyond investment. B2EN formed a consortium with Rebellions and VIRNECT for Mongolia's customs AI administration project, deploying HYPERGLORY on servers with Rebellions NPUs to support HS code recommendations and customs work.
B2EN aims to expand enterprise AI by connecting data quality, metadata and governance with HYPERGLORY, AI agents and ERP. HYPERGLORY holds KTR AI and Grade 1 GS certifications, while the Odoo partnership supports workflow innovation combining ERP and AI.
The company says future value creation depends on turning the model proven in Mongolia—Korean NPUs, data governance, RAG/AI and business systems—into repeatable commercial offerings.
If Rebellions' infrastructure and B2EN's data and AI software generate real orders and recurring revenue, B2EN could be revalued from a data SI company to an enterprise AI platform company.
Industry observers note two potential sources of value: investment assets and AI business. A rise in Rebellions' valuation may affect the fund's assets, while expansion of joint NPU/software offerings into domestic and international public and enterprise markets could drive B2EN's own revenue.
Related coverage: Newspim