Monday, October 25, 2021

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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
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