Nieke Roos
22 May 2023

Eindhoven-based Axelera AI has attracted additional investors to participate in its oversubscribed Series A round, bringing the total amount raised to 50 million dollars. The funding will support the European startup’s global expansion and mass production of its first-generation AI acceleration platform. The company has already begun expanding its operations in the US with the October signing of Jonathan Ballon as non-executive chairman and the recent addition of Silicon Valley marketing veteran Sander Arts.

Through its Metis platform, powered by in-memory computing and RISC-V controlled dataflow technology, Axelera aims to make edge AI readily accessible to a wider audience. A few months after the product announcement, 350+ customers have shown interest, close to 100 requested a sample for testing and over 50 signed up for the Early Access Program (EAP). The EAP supports the development of next-generation computer vision solutions by providing benefits, such as collaborative hardware design, as well as specialized assistance for software and machine learning.

Axelera AI vision box
Credit: Axelera AI

In the last several months, Axelera saw Italy’s CDP Venture Capital, Switzerland’s Verve Ventures and Fractionelera joining as new investors. The latter consortium was created specifically to fund the startup. Innovation Industries increased its participation, becoming the largest backer. “In just 20 months, we’ve achieved incredible milestones including the tape-out of two cutting-edge AI chips, securing a total of 50 million in funding, forging impactful partnerships and design wins with industry-leading customers. We’re thrilled to bring our new investors into the fold,” comments Axelera CEO Fabrizio Del Maffeo.