Axelera AI Raises $68M in Series B to Advance AI Hardware Acceleration Technology
Axelera AI operates R&D offices across Belgium, Switzerland, Italy, and the UK, employing over 180 staff in 18 countries.
Company Name: Axelera AI
Location: Eindhoven, The Netherlands
Sector: Technology, Artificial Intelligence
Funding Details: Raised $68M in Series B funding. Investors include Invest-NL Deep Tech Fund, the European Innovation Council Fund, Innovation Industries Strategic Partners Fund (supported by Dutch Pension Funds PMT and PME, managed by MN), Samsung Catalyst Fund, along with existing investors Verve Ventures, Innovation Industries, Fractionelera, and CDP Venture Capital SGR.
Purpose of Investment: To expand operations and business reach.
Leadership: Led by CEO Fabrizio Del Maffeo and CTO Evangelos Eleftheriou.
Product: Axelera AI specializes in AI hardware acceleration technology for AI inference applications, including computer vision and generative AI. The company’s flagship product, the Metis™ AI platform, is a comprehensive hardware and software solution designed for Edge AI inference. It offers high performance and efficiency at a fraction of the cost of competing solutions.
About Company: Axelera AI operates R&D offices across Belgium, Switzerland, Italy, and the UK, employing over 180 staff in 18 countries. The company's innovative technology supports a wide range of AI applications, making it a leading provider in the AI hardware acceleration market. This new round of funding will enable Axelera AI to continue its growth trajectory and expand its technological and geographical footprint. The funds build on previous investments, including innovation credit from RVO and equity investments from notable stakeholders like Bitfury and the Federal Holding and Investment Company of Belgium (SFPIM).