Total amount raised
$203.2 Millions
Latest funding date
03/01/2025
Location
Axelera AI has successfully raised significant funding, including a €61.6 million grant, to develop scalable AI chiplets for high-performance computing. The company specializes in AI hardware acceleration technology, focusing on computer vision and generative AI applications.
With a diverse range of investors and innovative products like the Metis AI Processing Unit, Axelera AI is poised to make a substantial impact in the AI industry. Keep reading to explore the intricacies of Axelera AI's fundraising journey and the investors backing this innovative platform.
What Is Axelera AI?
Founded in 2021, Axelera AI is headquartered in Eindhoven, Noord-Brabant, The Netherlands. The company was co-founded by Bram Verhoef, Evangelos Eleftheriou, and Fabrizio Del Maffeo. Specializing in AI hardware acceleration technology, Axelera AI focuses on computer vision and generative AI applications.
With a team of 101-250 employees, Axelera AI offers products like the Metis AI Processing Unit and Voyager SDK. The company operates from the AI Innovation Center at the High Tech Campus in Eindhoven, with additional R&D offices in Belgium, Switzerland, and Italy.
How Much Funding Has Axelera AI Raised?
- Seed Round
- Amount Raised: $12M
- Date: September 2021
- Lead Investors: Bitfury Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial AI hardware acceleration technology.
- Series A
- Amount Raised: $27M
- Date: October 2022
- Lead Investors: Innovation Industries
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand R&D efforts and accelerate product development.
- Debt Financing
- Amount Raised: $6.7M
- Date: October 2022
- Lead Investors: Netherlands Enterprise Agency
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and further product development.
- Series A
- Amount Raised: $23M
- Date: May 2023
- Lead Investors: CDP Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance AI hardware solutions.
- Series B
- Amount Raised: $68M
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance AI hardware technology and expand product offerings.
- Grant
- Amount Raised: $67.5M
- Date: March 2025
- Lead Investors: EuroHPC Joint Undertaking
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the Titania AI inference chiplet and support the DARE Project.
Total Amount Raised: $204.2M. Current Valuation: Not publicly disclosed.
Key Investors
- EuroHPC Joint Undertaking (JU)
- Details: EuroHPC JU is an initiative established to develop, deploy, extend, and maintain an integrated world-class supercomputing and quantum computing infrastructure. It aims to foster a highly competitive and innovative HPC ecosystem.
- Investment Focus Areas: High-performance computing (HPC), quantum computing infrastructure, development of European processors and accelerators.
- Notable Investments: Axelera AI.
- CDP Venture Capital
- Details: CDP Venture Capital is an Italian investment firm focused on supporting innovative startups and SMEs. It aims to foster the growth of the Italian venture capital ecosystem.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: Axelera AI.
- Innovation Industries
- Details: Innovation Industries is a venture capital firm based in the Netherlands, investing in high-tech companies. It focuses on early to growth-stage investments.
- Investment Focus Areas: High-tech, med-tech, industrial tech.
- Notable Investments: Axelera AI.
- Netherlands Enterprise Agency
- Details: The Netherlands Enterprise Agency is a government agency that supports entrepreneurs, NGOs, knowledge institutions, and organizations. It aims to improve sustainability, innovation, and international business.
- Investment Focus Areas: Sustainability, innovation, international business.
- Notable Investments: Axelera AI.
- Bitfury Group
- Details: Bitfury Group is a leading emerging technologies company that provides infrastructure for the Bitcoin Blockchain. It incubated Axelera AI in 2019.
- Investment Focus Areas: Blockchain, AI, emerging technologies.
- Notable Investments: Axelera AI.
What's Next for Axelera AI?
Axelera AI is poised to capitalize on the burgeoning AI market with the development of its Titania AI chiplet, a high-performance, energy-efficient solution designed for diverse applications from high-performance computing to automotive sectors. The company's participation in the EuroHPC DARE Project and expansion of R&D teams across Europe underscore its commitment to innovation and growth.
With over $200 million in funding secured, Axelera AI is well-positioned for future fundraising opportunities, potentially attracting further investments to support the deployment of Titania by 2028. However, the company faces challenges such as intense market competition and the technical demands of scaling its AI technologies efficiently.
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