TLDR
- Axelera AI raises $68M in Series B funding from various investors.
- The company plans to use the funds to expand operations and business reach.
Article Summary
Axelera AI, a provider of AI hardware acceleration technology for generative AI and computer vision inference, has secured $68M in Series B funding. The funding round included investments from Invest-NL Deep Tech Fund, the European Innovation Council Fund, Innovation Industries Strategic Partners Fund, Samsung Catalyst Fund, and existing investors Verve Ventures, Innovation Industries, Fractionelera, and CDP Venture Capital SGR. The company, led by CEO Fabrizio Del Maffeo and CTO Evangelos Eleftheriou, plans to use the funds to expand its operations and business reach.
Axelera AI’s product, the Metis™ AI platform, offers a hardware and software solution for Edge AI inference that delivers performance and efficiency at a lower cost compared to alternative solutions. The company has R&D offices in several countries with over 180 employees. This Series B funding adds to previously raised funds from various sources, including an innovation credit from RVO and equity investments.
