AI Semiconductor Startup Axelera AI secured $12 Million Seed funding

Axelera AI

Axelera AI, a Netherland-based AI semiconductor startup, has now secured $12 million in seed funding startup.

Axelera AI is founded by the Fabrizio del Maffeo. It is designing advanced solutions for AI at the edge. Its software and hardware product will be going to concentrate the AI computational power of an entire server into a single chip at a fraction of the power consumption and price of AI hardware today.

The company’s solution empowers advanced AI at the edge.

Executive Opinion

Fabrizio del Maffeo, CEO, and co-founder of Axelera AI, said, "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. We look forward to building on our extensive R&D and introducing new solutions across the globe over the next few years."

Axelera AI's Latest Funding

The Bitfury Group led the latest funding round. Other participating investors include imec.xpand, deep tech venture capital funds innovation industries and global nanoelectronics R&D center imec.

The company, as of now, has plans to use the new funds for the development of its product, powering AI applications at the edge.
PC: Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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