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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