Axelera AI: Raises $12M in Seed Funding

Axelera AI Raises $12M in Seed Funding

• Axelera AI, an Eindhoven, The Netherlands-based AI semiconductor startup, raised $12m in seed funding
• The round was led by Bitfury and joined by global nanoelectronics R&D center imec and deep-tech venture capital funds Innovation Industries and imec.xpand
• The company intends to use the funds for the development of its product powering AI applications at the edge
• AxeleraAI is designing advanced solutions for AI at the edge
• Its hardware and software product will concentrate the AI computational power of an entire server into a single chip at a fraction of the power consumption and price of AI hardware today
• The company’s solution will empower thousands of applications of AI at the edge, making the use of AI efficient and accessible