AI chip startup Etched has manufactured silicon, books $1B in orders three years after $5.4M seed round

Etched, founded in 2022 by three Harvard dropouts, says it has manufactured its custom AI inference chips and that clients began testing full systems in June 2026. The company reports $1 billion in booked orders. The milestone comes roughly three years after a $5.4 million seed round. Sequoia led a $300 million Series C in July 2026 at a $10.3 billion valuation.