Fractile issues £577 million (about $774.9 million) in Series C shares

London chip developer Fractile allotted approximately £577 million (about $774.9 million) in Series C preferred shares, all paid in cash with nothing outstanding, a Tech Funding News (TFN) analysis of Companies House filings says. The filings follow its $220 million Series B funding round about 5 months earlier.

Fractile develops chips for superintelligence (SI) inference—the stage when a trained model responds to a prompt. The company has not shipped a production chip and expects deployment in data centers in 2027.

What the filings establish

The allotments occurred between 9 September and 23 October 2026. The 9 share-allotment returns, known as SH01 forms, were filed on 15 October and 28. They cover 3 preferred-share classes with different issue prices.

The filings establish the shares allotted so far. Fractile has not publicly confirmed the round or said whether it will issue more Series C shares. The Cap Table says the filings do not name the investors and Fractile has not explained the pricing tiers. It calculates that the new classes account for 19.2% of all issued shares.

Earlier funding and the valuation question

Walter Goodwin and Yuhang Song founded Fractile in 2022. The company introduced its work publicly in July 2024 with a £12 million (about $16.1 million) seed funding round.

TFN said Fractile was in advanced talks in August 2026 to raise $600 million at a $6.5 billion pre-money valuation—the value assigned to the company before new investment. That valuation belonged to the fundraising talks, rather than a confirmed valuation for the September–October allotments.

From chip design to delivery

Fractile’s design keeps data close to the transistors that perform calculations, an approach intended to reduce the time and energy spent moving data between memory and processors.

Fractile says some lengthy SI workloads currently run at around 40 tokens—small units of text—per second. It targets 1,200 tokens per second; the higher speed is a company goal, not a demonstrated result.

TFN also relayed Bloomberg’s account, based on unnamed sources, of an initial agreement for Fractile to sell Anthropic about $250 million in chips. Both parties were interested in expanding the agreement.

Fractile has not disclosed how it will use the Series C funds. Its Series B was earmarked for its first chips and systems and for hiring in London, Bristol, San Francisco and Taipei.

Further share-allotment filings and a shareholder confirmation statement should clarify who backed Fractile and the resulting ownership, The Cap Table says.