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Axelera AI raises USD 68 Million in Series B to expand product offerings
Machine Learning Infrastructure
Jun 27, 2024
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Machine Learning Infrastructure

Machine Learning Infrastructure

Jun 27, 2024

Axelera AI raises USD 68 Million in Series B to expand product offerings

Funding

  • Edge AI chip startup Axelera AI has raised USD 68 million in Series B funding, led by major institutional backers, including Invest-NL Deep Tech Fund, European Innovation Council Fund, Innovation Industries Strategic Partners Fund, and Samsung Catalyst Fund. The company's total funds raised now stand at USD 137 million.

  • It aims to use the fresh funds to broaden its product offerings from the edge to cloud data centers to address the needs of GenAI, LLMs, and multi-modal models.

  • Formed in 2021 and based in the Netherlands, Axelera AI develops purpose-built AI hardware acceleration technology for AI inference, including computer vision and GenAI applications. Its first-generation product is the Metis AI platform, a holistic hardware and software solution for Edge AI inference.

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