Axelera AI

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Axelera AI Raises $68 Million Series B Funding to Accelerate Next-Generation Artificial Intelligence

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Axelera AI, Invest-NL

Axelera AI, the leading provider of purpose-built AI hardware acceleration technology for generative AI and computer vision inference, announced its successful close of an oversubscribed $68 million Series B financing round, bringing the total amount raised to $120 million. In just three years, Axelera AI has built a world-class team of 180+ employees (including 55+ PhD’s with more than 40,000 citations), launched its Metis™ AI Platform which achieves a 3-5x increase in efficiency and performance, and has visibility into a strong business pipeline which exceeds $100 million. This success has attracted diverse, global funding from venture capital, sovereign wealth and pension funds.

Axelera AI’s Series B funding round is Europe’s largest oversubscribed Series B funding round in the fabless semiconductor industry. It is backed by major institutional investors, including Invest-NL Deep Tech Fund, the European Innovation Council Fund, Innovation Industries Strategic Partners Fund (backed by Dutch Pension Funds PMT and PME, administered by MN) and Samsung Catalyst Fund, along with existing investors Verve Ventures, Innovation Industries, Fractionelera and the Italian sovereign fund CDP Venture Capital SGR. 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.

This new capital enables Axelera AI to grow its high demand AI inference solutions based on its proprietary digital in-memory computing and RISC-V technology.

Read more at Business Wire