Axelera AI, an Eindhoven, Netherlands-based AI semiconductor startup, raised $12 million in a seed round.
The round was led by emerging technologies leader Bitfury and joined by global nanoelectronics R&D center imec and deep-tech venture capital funds Innovation Industries and imec.xpand.
The funding will support the company’s development of an industry-defining product powering AI applications at the edge.
Company: Axelera AI
Round: Seed Round
Funding Month: September 2021
Lead Investors: Bitfury
Additional Investors: imec, deep-tech venture capital funds Innovation Industries and imec.xpand
Company Website: https://axelera.ai/
Software Category: AI solutions
About the Company: Axelera AI was incubated by Bitfury Group in 2019, formerly operating as Bitfury AI until the company came out as an independent entity this year. Axelera AI is designing the world’s most efficient and advanced solutions for AI at the edge. Its game-changing hardware and software product will concentrate the AI computational power of an entire server into a single chip at a fraction of the power consumption and price of AI hardware today. The company’s groundbreaking solution will empower thousands of applications of AI at the edge, making the use of AI more efficient and accessible than ever before. Axelera AI’s products will be fully integrated with the leading open-sourced AI frameworks when it launches to select customers and partners in early 2022.