Our $445M Series D

Oxide announces a $445M Series D to finance rapid growth after reaching an uncommon startup milestone: generating taxable income from ordinary operations. Profitability - rare for early-stage companies and typically a lagging sign of product/market fit - came alongside a very large order backlog. Because hardware businesses must pay for components and manufacturing long before systems reach customers, Oxide needed substantial cash to secure inventory and avoid being forced to constrain demand. Existing capital from prior rounds and internal cash could cover current obligations but would have compelled caution in accepting new orders; outside investment was therefore necessary to protect the company against supply shocks and enable expansion.

The round was led by Eclipse and included major participation from prior backers USIT, Riot Ventures, and Jane Street, plus Friends and Family Capital and Counterpart. New investors include Atreides Management, praised for its analytical, hard‑tech approach, and AMD as a strategic partner - reflecting their history of technical collaboration (including Oxide’s early EPYC-based platforms). Building on the $200M Series C that de‑risked the business, the $445M infusion is intended to fulfill backlog, scale manufacturing capacity, accept fresh demand, and fund long‑term independence and investment. The announcement closes with gratitude to investors, customers, employees, and partners.