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Axelera lands new funds as the AI chip market heats up | TechCrunch

Jun 27, 2024 - techcrunch.com
AI chip startup Axelera has raised $68 million in a Series B funding round, bringing its total funding to $120 million. The Netherlands-based company, which designs AI-running chips and systems for applications like security, retail, automotive and robotics, plans to use the new funds to expand to new markets ahead of full production of its flagship Metis AI platform in H2 2024. Axelera's hardware stack is defined by the instruction set architecture (ISA) RISC-V and in-memory computing, and the company also provides software to manage and deploy AI models to that hardware.

Despite competition from major players like Nvidia, Axelera aims to carve out a niche within the AI chip market, focusing on chips that run AI on edge devices. The company is also eyeing the data center chip market, with plans to fund R&D of chips for high-performance compute use cases. Axelera's CEO, Fabrizio Del Maffeo, said the funding supports their mission to democratize access to AI, from the edge to the cloud.

Key takeaways:

  • The AI boom is driving demand for AI chips, with major players including SoftBank and OpenAI looking to invest in this sector.
  • Axelera, an AI chip startup, has managed to attract backers like Samsung by focusing on a niche within the AI chip market: chips that run AI on edge devices.
  • Axelera recently closed a $68 million Series B funding round, bringing its total raised to $120 million. The funds will be used to expand to new markets and for R&D of chips aimed at high-performance compute use cases.
  • Despite the competition, Axelera aims to democratize access to AI and address industry challenges in AI inference and support current and future AI processing needs.
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