Axelera AI, an AI hardware acceleration technology company offering a broad range of hardware designed for generative AI and computer vision inference, has secured an even larger $68 million Series B funding round, bringing the total raised to an impressive $120 million. Here we are talking about Axelera AI Raises $68 Million in Series B Funding.
Vision and Mission of Axelera AI
Axelera AI has been established to simplify AI at the edge and fast-track computer vision. It aims at a world in which artificial intelligence is natural and integrated into devices, enhancing their functions and usability. Its vision encompasses making complex AI technology available to everyone and, more importantly, to edge devices. All of them are to develop easy-to-use hardware and software solutions to boost AI computer vision on edge nodes.
Their characteristic in-memory computing and RISC-V controlled dataflow offer performance and convenience. They make it easier for developers and businesses to apply AI without dealing with excessive layers of complexity. Axelera AI’s Metis™ AI platform is a groundbreaking solution for artificial intelligence inference at the Edge. It is dedicated to enhancing various computer vision applications to be efficient, accurate, and cheap. By enabling advanced AI acceleration features, it fosters profound advancements in video analysis and edge computing.
Global Innovation and Market Expansion
Metis™ AI Processing Unit (AIPU) from Axelera AI is currently the world’s most potent AIPU for edge devices. This powers next-gen AI inference solutions for computer vision and generative AI. The use of Metis™ AIPU is becoming mainstream, leading to implementing new solutions. Axelera AI is expanding into new areas like automotive and high-performance computing with Europe’s most considerable oversubscribed Series B funding in fabless semiconductors. Axelera AI now has a $100 million business pipeline, which promotes its status as the AI industry’s preferred partner to drive innovation. Venture capital, sovereign wealth, and pension funds are among the different global funds interested in the company’s success.
Team and Leadership of Axelera AI
The team at Axelera AI is vibrant and comprised of visionaries and experts. The CEO and co-founder, Fabrizio Del Maffeo, is their driving force and has vast experience as a successful businessman. Before starting Axelera AI, he was the Head of Artificial Intelligence at Bitfury and the Vice President/Managing Director at AAEON Europe, an Asus Group company. The CTO is Evangelos Eleftheriou, an IEEE Fellow, an IBM Fellow Emeritus, and the company’s co-founder. This insight propels Axelera AI’s growth in technology.
The Board of Directors provide guidance, including Jonathan Ballon (Chairman), Cyril Vancura, Valery Vavilov, Sander Verbrugge, Massimo Vanzi, Inder Singh, and others. Leading-edge advice comes from Luca Benini, Marian Verhelst, and Torsten Hoefler. Sander Arts and Stephen Owen also contribute their knowledge to the process. In less than 23 months of operation, Axelera AI has expanded to more than 120 talented employees worldwide. Supported by established players like the IMEC, they are bringing AI to the edge of reality and relevance.
Investors and Industry Challenges
Investors are Invest-NL Deep Tech Fund, European Innovation Council Fund, Innovation Industries Strategic Partners Fund, and Samsung Catalyst Fund. Other existing investors, including Verve Ventures, Innovation Industries, Fractionelera, and the Italian sovereign fund CDP Venture Capital SGR, also invested in this round. Axelera AI’s solution outperforms competitors regarding performance/ efficiency, energy supply, cost, availability, and scaling.
Conclusion
Axelera AI has completed its Series B funding, making the firm one of the prominent players in AI hardware acceleration. Based on the current leadership team, advanced technological solutions, and a diverse portfolio of business initiatives, Axelera AI has the potential to expand and make an even more significant contribution in the future. Axelera AI was founded to help release the full possibilities of future computer vision applications based on innovation, simplicity, and performance.
