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AI chip Startup Axelera Lands $27M in Capital to Commercialize its Hardware

1 min read Original Link

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. In addition, the Netherland Enterprise Agency awarded Axelera AI a $6.7 million loan commissioned by the Ministry of Economic Affairs and Climate Policy.

Fabrizio Del Maffeo and a core team from Imec, a Belgium-based nanotechnology lab, teamed up with Evangelos Eleftheriou and a group of researchers at IBM Zurich Lab to develop a computer chip, several years ago. 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.

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