Axelera AI raises $68m in Series B funding round

Netherlands-based Edge AI chip startup Axelera AI has raised $68 million in its oversubscribed Series B funding round which included participation from the European Innovation Council Fund, the Innovation Industries Strategic Partners Fund, Samsung Catalyst Fund, and Verve Ventures.

“There’s no denying that the AI industry has the potential to transform a multitude of sectors,” said Fabrizio Del Maffeo, co-founder and CEO at Axelera AI. “This funding supports our mission to democratize access to artificial intelligence, from the Edge to the cloud. By expanding our product lines beyond the Edge computing market, we are able to address industry challenges in AI inference and support current and future AI processing needs with our scalable, proven technology.”

“Axelera AI is now developing a new generation of products for computer vision, large language models, and large multimodal models,” he added. “This new product family will be unveiled later this year and enter full production in 2025.”