$12M seed round brings Dutch stealth startup Axelera AI to light

Dutch AI startup Axelera AI has announced the successful closing of its seed investment round. At the bell, the Eindhoven-based stealth company padded its coffers with a haul of 12 million dollars (10.15 million euros). This seed round investment was led by the Amsterdam-based emerging-technologies expert Bitfury and was joined by Imec, the Innovation Industries Fund and Imec.xpand. These funds will be used to support Axelera’s ambitions to develop an industry-defining product that brings the AI computational power of an entire server into a single chip, powering AI applications at the edge.

CEO Fabrizio Del Maffeo is heading the ambitious new AI startup. Credit: Bitfury

Incubated by Bitfury Group in 2019, Axelera AI got its start operating as Bitfury AI, before spinning out as an independent entity this year. Building on its extensive research and development, focused on integrating world-class hardware and software technologies for edge and cloud-to-edge enterprise solutions, in early 2020, the startup joined forces with Imec to develop groundbreaking computing architecture for high-performance AI. So far, the company has recruited more than 20 senior engineers and developers from world-leading AI companies and research centers, including Intel, Qualcomm, IBM and Imec. Headquartered in Eindhoven’s High Tech Campus, the startup also holds R&D offices in Leuven and Zurich.

“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,” says Fabrizio Del Maffeo, CEO and co-founder of Axelera AI. “Our 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.”

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