AI chip startup Axelera lands $27M in capital to commercialize its hardware
Summary
Unlike conventional chips, theirs was destined for devices at the edge, particularly those running AI workloads, because Del Maffeo and the rest of the team perceived that most offline, at-the-edge computing hardware was inefficient and expensive.After incubating a startup Axelera AI to commercialize their chip technology within the blockchain company Bitfury Group, Del Maffeo and team secured capital from VCs including Imecs venture arm, Imex.xpand. Innovation Industries led a $27 million Series A in Axelera AI that closed this week with participation from Imec.xpand and the Federal Holding and Investment Company of Belgium. Were engineering the AI platform to help overcome this access barrier [by] delivering a game-changing, user-friendly and scalable technology with superior performance and efficiency at a fraction of the cost of existing players to accelerate computing vision and natural language processing at the edge.Axelera is working to develop AI acceleration cards and systems for use cases like security, retail and robotics that it plans to sell through partners in the business-to-business edge computing and Internet of Things sectors. NeuroBlade, which last October raised $83 million in capital, is developing chips that combine both compute and memory into a single hardware block for data processing. Later this year, well also open a unique collaboration opportunity for leading companies to become early adopters of our AI platform.Assuming Axelera can deliver on its promises, it stands to make some serious cash.
Funding
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