Fractile
UK-based AI chip startup building in-memory compute hardware purpose-built for LLM inference
AI
📍 London, UK
Founded 2022
Current Valuation
$1.0B
as of 2026-Q2
UNICORN
Fractile is a UK-based AI chip startup founded in 2022 by Dr. Walter Goodwin, a then-PhD student at the University of Oxford's Robotics Institute. The company builds in-memory compute (IMC) chips that execute calculations directly inside computer memory, aiming to reduce power consumption and enable cheaper, faster LLM inference at scale. Backed by Oxford Science Enterprises, Kindred Capital, NATO Innovation Fund, and notably former Intel CEO Pat Gelsinger. Reportedly in talks to raise $200M at a $1B valuation led by Accel in early 2026. Announced a £100M ($132M) UK expansion in February 2026 to grow operations in London and Bristol.
Company Profile
Growth
Pre-revenue (chip pre-production)
Last Round
Series A (in talks) — $200M (Mar 2026) · Lead: Accel (reported)
IPO Status
no imminent plans
Founders & Key People
Walter Goodwin
Investors
Accel (reported lead) · Oxford Science Enterprises · Kindred Capital · NATO Innovation Fund · Pat Gelsinger · Stan Boland
Products
- In-memory compute AI accelerator chips
- Inference-optimized hardware for transformers
Competitors
Etched · Groq · Cerebras · d-Matrix · FuriosaAI · SambaNova
AIHardwareInferenceIn-Memory ComputeUK
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2026-Q2. Refreshed quarterly.