Dutch startup Axelera AI launches with USD 12M Seed Round
AI semiconductor startup Axelera AI has successfully closed a seed investment round of USD 12 million. The round was led by emerging technologies leader Bitfury and joined by global nanoelectronics R&D center imec and deep-tech venture capital funds Innovation Industries and imec.xpand.
Axelera AI was incubated by Bitfury Group in 2019, formerly operating as Bitfury AI until the company came out as an independent entity this year. Building on its extensive research and development focused on integrating world-class hardware and software technologies for edge and cloud-to-edge enterprise solutions, Axelera AI has also joined forces with imec since early 2020 to develop computing architecture for high-performance AI. Headquartered in the AI Innovation Center of the High-Tech Campus in Eindhoven, Axelera AI also has R&D offices in Leuven (BE) and Zurich (CH). The company has already recruited a team of more than 20 senior engineers and developers from AI companies and research centers, including Intel, Qualcomm, IBM, and imec. “With our launch as a new independent company and the closing of this investment, Axelera AI is now claiming its place as a significant player in the global AI sector. Our extraordinary team merges complementary expertise in software development, image processing, dataflow architecture, in-memory computing, algorithms and quantization with a proven track record of business success, and we look forward to building on our extensive R&D, introducing new solutions across the globe in the next few years,” said Fabrizio del Maffeo, CEO and co-founder of Axelera AI. “Bitfury has a proven track record of incubating and bringing game-changing technologies to market. We can look no further than LiquidStack, the emerging leader in two-phase liquid immersion cooling for the world’s most intensive computing applications, and Crystal Blockchain, the most advanced blockchain analytics platform for digital asset compliance. We could not be more excited to support the launch of Axelera AI, which is bound to accelerate the development and delivery of critical AI solutions for across global markets,” said Valery Vavilov, CEO and co-founder of Bitfury Group.