Axelera AI, an Eindhoven, The Netherlands-based provider of AI hardware acceleration technology for generative AI and computer vision inference, raised $68M in Series B funding.
Backers included Invest-NL Deep Tech Fund, theĀ European Innovation Council Fund,Ā Innovation Industries Strategic Partners FundĀ (backed by Dutch Pension Funds PMT and PME, administered byĀ MN) andĀ Samsung Catalyst Fund, along with existing investorsĀ Verve Ventures,Ā Innovation Industries, Fractionelera and the Italian sovereign fundĀ CDP Venture Capital SGR.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Fabrizio Del Maffeo, and CTO Evangelos Eleftheriou, Axelera AI is a provider of purpose-built AI hardware acceleration technology for AI inference, including computer vision and generative AI applications. Its product is the Metisā¢ AI platform ā a hardware and software solution for Edge AI inference which delivers performance and efficiency at a fraction of the cost of alternative solutions.
Axelera AI has R&D offices in Belgium, Switzerland, Italy and the UK, with more than 180 employees in 18 countries.
The new capital adds to previously raised funds, including the innovation credit from RVO, and equity investment from Bitfury, CDP Venture Capital, Federal Holding and Investment Company of Belgium (SFPIM), imec, imec.xpand and Innovation Industries.
FinSMEs
27/06/2024