Axelera raises $68M to rival Nvidia with edge AI chips

by | Jun 27, 2024 | Technology

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Nvidia leads the age of AI hardware. The company’s high-performance GPUs are being used by some of the biggest technology companies in the world to power the training and inference for some very large models.

But, as the Jensen Huang-led giant continues to thrive, a batch of smaller AI hardware companies has also come to the fore, targeting specific niches within the domain. Today, one such startup hailing from the Netherlands, Axelera AI, announced it has $68 million in series B funding.

Axelera is building solutions powered by AIPUs or AI processing units to run computer vision inference workloads on the edge. The investment in the startup marks Europe’s largest Series B round in the fabless semiconductor category and has been led by major institutional backers, including Invest-NL Deep Tech Fund, European Innovation Council Fund, Innovation Industries Strategic Partners Fund and Samsung Catalyst Fund.

Axlera said it will use the capital to take its existing AIPU solutions to new geographies and markets as well as add new products to address the computing needs of next-generation AI workloads, including multimodal LLMs. 

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Understanding Axelera’s value proposition

Spun out of the AI innovation lab of Bitfury Group, a blockchain technology company, Axelera AI’s core focus is on AI acceleration, particularly for edge computing applications. The company launched in 2021 and has developed a platform called Me …

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Don’t miss OpenAI, Chevron, Nvidia, Kaiser Permanente, and Capital One leaders only at VentureBeat Transform 2024. Gain essential insights about GenAI and expand your network at this exclusive three day event. Learn More

Nvidia leads the age of AI hardware. The company’s high-performance GPUs are being used by some of the biggest technology companies in the world to power the training and inference for some very large models.

But, as the Jensen Huang-led giant continues to thrive, a batch of smaller AI hardware companies has also come to the fore, targeting specific niches within the domain. Today, one such startup hailing from the Netherlands, Axelera AI, announced it has $68 million in series B funding.

Axelera is building solutions powered by AIPUs or AI processing units to run computer vision inference workloads on the edge. The investment in the startup marks Europe’s largest Series B round in the fabless semiconductor category and has been led by major institutional backers, including Invest-NL Deep Tech Fund, European Innovation Council Fund, Innovation Industries Strategic Partners Fund and Samsung Catalyst Fund.

Axlera said it will use the capital to take its existing AIPU solutions to new geographies and markets as well as add new products to address the computing needs of next-generation AI workloads, including multimodal LLMs. 

Countdown to VB Transform 2024

Join enterprise leaders in San Francisco from July 9 to 11 for our flagship AI event. Connect with peers, explore the opportunities and challenges of Generative AI, and learn how to integrate AI applications into your industry. Register Now

Understanding Axelera’s value proposition

Spun out of the AI innovation lab of Bitfury Group, a blockchain technology company, Axelera AI’s core focus is on AI acceleration, particularly for edge computing applications. The company launched in 2021 and has developed a platform called Me …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]

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