Axelera AI Secures $68M in Series B Funding for AI Chip Expansion
June 28, 2024, 3:33 pm
Axelera AI, a Netherlands-based startup specializing in AI chip hardware, has raised $68 million in Series B funding to expand its product offerings from edge to cloud data centers. The oversubscribed round, backed by major institutional investors, will support the company's mission to democratize access to artificial intelligence.
Axelera AI, a rising star in the AI chip industry, has secured a hefty $68 million in Series B funding to fuel its expansion into new markets and product offerings. The company, known for its specialized computer chip hardware optimized for AI software at the network edge, has caught the attention of major institutional investors, including Invest-NL Deep Tech Fund, the European Innovation Council Fund, and the Samsung Catalyst Fund.
Founded in 2021, Axelera AI has quickly made a name for itself with its flagship product, the Metis AI Platform, capable of delivering a staggering 39.3 trillion computations per second. This high-performance, energy-efficient chip is designed to accelerate AI inference, making it ideal for edge devices that require efficient processing power.
With the new funding, Axelera AI plans to broaden its product offerings beyond the edge computing market, addressing the growing demand for generative AI, large language models, and multi-modal models. By expanding into high-performance computing, the company aims to power future exascale and petascale data centers, catering to the evolving needs of the AI industry.
Fabrizio Del Maffeo, co-founder and CEO of Axelera AI, emphasized the importance of delivering high-performance and efficiency while balancing cost in the AI industry. The company's mission to democratize access to artificial intelligence, from the edge to the cloud, aligns with the market's increasing demand for innovative AI solutions.
The Series B funding round, Europe's largest oversubscribed round in the fabless semiconductor industry, highlights Axelera AI's position as a key player in the AI chip market. With a strong business pipeline exceeding $100 million and a team of over 180 employees, including 55+ PhDs, Axelera AI is poised for continued growth and success in the AI industry.
As the AI industry continues to evolve and transform various sectors, companies like Axelera AI are at the forefront of innovation. By harnessing the power of AI chip technology, Axelera AI is paving the way for advancements in AI inference and processing, driving global innovation and unlocking new possibilities for businesses across industries.
Axelera AI, a rising star in the AI chip industry, has secured a hefty $68 million in Series B funding to fuel its expansion into new markets and product offerings. The company, known for its specialized computer chip hardware optimized for AI software at the network edge, has caught the attention of major institutional investors, including Invest-NL Deep Tech Fund, the European Innovation Council Fund, and the Samsung Catalyst Fund.
Founded in 2021, Axelera AI has quickly made a name for itself with its flagship product, the Metis AI Platform, capable of delivering a staggering 39.3 trillion computations per second. This high-performance, energy-efficient chip is designed to accelerate AI inference, making it ideal for edge devices that require efficient processing power.
With the new funding, Axelera AI plans to broaden its product offerings beyond the edge computing market, addressing the growing demand for generative AI, large language models, and multi-modal models. By expanding into high-performance computing, the company aims to power future exascale and petascale data centers, catering to the evolving needs of the AI industry.
Fabrizio Del Maffeo, co-founder and CEO of Axelera AI, emphasized the importance of delivering high-performance and efficiency while balancing cost in the AI industry. The company's mission to democratize access to artificial intelligence, from the edge to the cloud, aligns with the market's increasing demand for innovative AI solutions.
The Series B funding round, Europe's largest oversubscribed round in the fabless semiconductor industry, highlights Axelera AI's position as a key player in the AI chip market. With a strong business pipeline exceeding $100 million and a team of over 180 employees, including 55+ PhDs, Axelera AI is poised for continued growth and success in the AI industry.
As the AI industry continues to evolve and transform various sectors, companies like Axelera AI are at the forefront of innovation. By harnessing the power of AI chip technology, Axelera AI is paving the way for advancements in AI inference and processing, driving global innovation and unlocking new possibilities for businesses across industries.