TLDR:
- Axelera AI raised $68 million in Series B funding to advance hardware acceleration technology.
- The company aims to address challenges in AI infrastructure by delivering high-performance and efficient solutions.
Axelera AI, a prominent provider of AI hardware acceleration technology, recently closed an oversubscribed $68 million Series B funding round. This brings their total funding to $120 million, with major investors including Invest-NL Deep Tech Fund, the European Innovation Council Fund, Innovation Industries Strategic Partners Fund, and Samsung Catalyst Fund, among others. The company, founded just three years ago, boasts a team of over 180 employees and has launched the Metis AI Platform, which offers enhanced efficiency and performance.
Axelera AI’s focus on addressing industry challenges related to energy consumption, cost, limited supply, and scalability has attracted diverse funding from venture capital, sovereign wealth, and pension funds. This new funding will enable the company to expand its AI inference solutions based on proprietary technology and fuel global growth in regions like North America, Europe, and the Middle East. They plan to target key vertical markets such as automotive, digital healthcare, Industry 4.0, retail, robots, drones, and surveillance.
Furthermore, this investment will allow Axelera AI to broaden its product offerings from edge computing to data centers to meet the increasing computing needs for Gen AI, large language models, and multi-modal models. The company is also focused on designing high-efficiency AI accelerators for future high-performance computing centers. With strong leadership and customer momentum, Axelera AI is well-positioned to support AI innovators across various industries.
Key quotes from the company’s executives emphasize the importance of delivering high-performance AI solutions while balancing cost. Fabrizio Del Maffeo, the Co-Founder and CEO, highlights the mission to democratize access to AI, while Marco Chisari from Samsung Semiconductor Innovation Center commends Axelera AI’s innovative approach to AI acceleration. The Series B funding signifies Axelera AI’s commitment to meeting the increasing demand for generative AI and computer vision solutions.
