Axelera AI, an Eindhoven, Netherlands-based provider of solutions for AI at the Edge, announced new investors in the Series A round, bringing the total amount raised to date to $50m.
CDP Venture Capital, Verve Ventures and Fractionelera have joined the round as Innovation Industries increased its investment in the company becoming the largest investor.
Led by CEO Fabrizio Del Maffeo, Axelera AI is providing solutions for AI at the edge. Its Metis AI platform – a holistic hardware and software solution for AI interference at the edge – enables computer vision applications to become more accessible and user friendly.
The company intends to use the funds for global expansion and mass production of its AI acceleration platform, powered by its in-memory computing and RISC-V controlled dataflow technology.
A few months after their product announcement, 350+ customers have shown interest, close to 100 requested a sample for testing, and over 50 signed up its Early Access Program (EAP), which still has a few weeks remaining for potential applicants. The EAP supports customers in developing next-generation computer vision products by providing benefits, such as collaborative hardware design, as well as specialized support for software and machine learning.
Headquartered in the AI Innovation Center of the High Tech Campus in Eindhoven (Netherlands), Axelera AI has R&D offices in Belgium, Switzerland, Italy and the UK, with more than 120 employees in 14 countries.
FinSMEs
22/05/2023