Oxide raises $445M Series D to fund inventory and manufacturing
Image: Primary Oxide says it has raised a $445M Series D led by Eclipse to fulfill its order backlog, accept additional demand and expand manufacturing capacity. Existing investors including USIT, Riot Ventures and Jane Street participated, while Atreides Management and AMD joined as new investors.
The computer maker says ordinary operations generated taxable income in the spring, but demand exceeds supply. Its hardware business requires substantial cash commitments to components and manufacturing before systems reach customers. Oxide says its earlier financing, debt facilities and operating cash could cover the current backlog, but accepting more demand would have required caution.
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