Axelera AI secures a total of $50M in funding in 20 months to develop edge AI chips
Axelera AI, a Dutch company specializing in edge AI chip design and software, says overwhelming interest and demand have led to the formation of a consortium of investors that will provide additional financial support for Axelera AI. The company, which previously raised $27 million in its Series A investment round, has now successfully secured a total of $50 million to fuel the expansion and innovation of its edge AI acceleration platform.
CDP Venture Capital, Verve Ventures, and Fractionelera are among the fresh investors who have joined Axelera AI. Innovation Industries, an existing investor, has now amplified its stake to become the largest investor. Axelera AI says that despite the challenging environment around fundraising, the increased investment influx demonstrates the company’s potential and growing presence in the market.
“We are proud to contribute to the growth of Axelera AI, a great Italian-led European company that is expanding its R&D division in the Milan office by bringing know-how and expertise to a highly strategic market for the future such as semiconductors,” says Mario Scuderi, senior partner and head of Evolution Fund, CDP Venture Capital.
Axelera AI reports that its first generation of the edge AI acceleration platform, Metis AI, has generated interest from over 350 potential customers expressing interest and over 50 have signed up for the company’s early access program.
Fabrizio Del Maffeo, CEO of Axelera AI, expresses delight in the remarkable success attained within the past 20 months, which not only augmented financial assistance but also the successful tape-out of two edge AI chips and the partnerships with key players in the industry.
“We’re thrilled to bring our new investors into the fold. This is a testament to our trailblazing technology and the unwavering trust our investors place in our extraordinary team,” says Fabrizio Del Maffeo, chief executive officer of Axelera AI.
In an effort to expand its presence in the United States, Axelera AI has appointed Jonathan Ballon as non-executive Chairman, bringing valuable expertise to the team. Additionally, Axelera AI has onboarded Sander Arts, a marketing veteran in Silicon Valley as a marketing advisor. Furthermore, Dr. Massimo Vanzi, an industry veteran with 45 years of experience in semiconductor technology, has joined the board of directors.
AI/ML | Axcelera AI | edge AI | energy efficiency | processor | venture capital