Eindhoven, Netherlands:
European AI startup Axelera AI introduced immediately the shut of its $27 million Series A funding spherical.
This press launch options multimedia. View the total launch right here: https://www.businesswire.com/news/home/20221017005510/en/
The Axelera AI Team is proud to announce its newest funding spherical. (Photo: Business Wire)
The funding will help Axelera AI’s launch and mass manufacturing of its first-generation AI acceleration platform, powered by its disruptive in-memory computing and dataflow. Since its inception and preliminary funding final 12 months, Axelera AI efficiently taped-out its first testbench chip, developed fully in-house, proving the efficiency and effectivity of in-memory compute for AI computations [Link]. Axelera AI can even additional broaden its workforce.
Axelera AI is designing the world’s most effective and superior options for AI on the edge. The firm will empower 1000’s of extra environment friendly and accessible edge AI purposes and can be absolutely built-in with main open-sourced AI frameworks when it launches to pick clients and companions in early 2023.
Jonathan Ballon, former VP and GM of Intel’s Edge AI and IoT business, will function Chairman of Axelera AI.
“The closing of this investment round comes closely after our Thetis Core announcement, proving our technology’s advantages to the AI community. We are excited to work with our investors to become a leader in European AI, strengthening the continent’s presence in the global sector,” stated Fabrizio del Maffeo, Axelera AI CEO and co-founder.
The funding spherical was led by Innovation Industries and joined by imec.xpand and the Federal Holding and Investment Company of Belgium (SFPIM). In addition, the Netherland Enterprise Agency (RVO) awarded Axelera AI $6.7 million of Innovation Credit (Innovatiekrediet), a particular mortgage reserved for extremely modern and impactful tasks, commissioned by the Ministry of Economic Affairs and Climate Policy.
Axelera AI will shortly announce its first product and start elevating for its Series B.
About Axelera
Axelera AI is designing the world’s strongest and superior options for AI on the edge. Its game-changing {hardware} and software program product will focus the AI computational energy of a whole server right into a single chip at a fraction of the ability consumption and worth of AI {hardware} immediately. Headquartered at Eindhoven’s High Tech Campus AI Innovation Center, Axelera AI has R&D places of work in Belgium, Switzerland, and Italy. Its workforce of consultants in AI software program and {hardware} hail from high AI corporations and Fortune 500 corporations. For extra info see: www.axelera.ai
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