Valley represents SILICON Netherlands and California. Axelera AI, the company that offers the most powerful and cutting-edge solutions for AI at the Edge, announces the addition of more investors to their oversubscribed Series A round, bringing the total amount raised to USD 50 million. Verve Ventures, Fractionelera, and CDP Venture Capital have all joined the round recently. The latter investor group was established primarily to finance Axelera AI. Innovation Industries grew its stake in the business, overtaking all other investors. Despite the challenging financing environment, it emphasizes the company’s potential and commercial traction.
With the help of the funds, Axelera AI will be able to produce its first-generation AI acceleration platform in large quantities and expand its worldwide reach. The company’s innovative in-memory computing drives this platform and RISC-V-controlled dataflow technology. A few months following their product introduction, more than 350 clients have expressed interest, almost 100 have asked for a sample for testing, and more than 50 have signed up for the company’s Early Access Programme (EAP), which is still accepting applications. By offering advantages like collaborative hardware design and specialized assistance for software and machine learning, the EAP helps clients create next-generation computer vision solutions.
Axelera AI redefines limits and offers access to market-leading Edge AI products through their Metis AI Platform, delivering optimal usability and performance at a markedly lower cost and power usage. Their platform promises to make AI easily accessible to a broader audience compared to current options.
With the appointment of Sander Arts, a seasoned marketer from Silicon Valley, as a marketing advisor and Jonathan Ballon as a non-executive chairman, Axelera AI has started extending its activities within the United States. A global vice president of sales, business developers, and technical support staff are all positions that the organization is actively hiring for.
“In just 20 months, we’ve accomplished tremendous milestones, including rolling out two state-of-the-art AI chips, securing a total of $50M in finance, building significant alliances, and winning design awards with market-leading clients. We are overjoyed to welcome our new investors. According to Fabrizio Del Maffeo, CEO of Axelera AI, this is evidence of both our innovative technology and our investors’ steadfast faith in our outstanding team.
Mario Scuderi, Senior Partner and head of Evolution Fund, CDP Venture Capital, said, “We are proud to contribute to the growth of Axelera AI, a tremendous 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.
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