Axelera AI Secures £8.7 Million Investment from Bitfury and imec, Launching Innovative Start-Up in AI Technology

Axelera AI Start-up Emerges with £8.7M Backing

Axelera AI, a Dutch semiconductor start-up focused on artificial intelligence, has recently come out of stealth mode with an impressive £8.7 million in seed funding. The investment round was primarily led by Bitfury, an incubator company that specializes in security and infrastructure for the Bitcoin blockchain. Other contributors to this funding include the nanoelectronics research and development center imec and venture capital firm Innovation Industries.

The startup is in the process of developing a chipset designed to enhance AI and machine learning algorithms at the edge. Axelera AI asserts that its product will operate with minimal power consumption while being offered at a significantly reduced cost compared to its competitors. Fabrizio del Maffeo, the CEO and co-founder, stated, “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.”

Del Maffeo emphasized the rich expertise of their team in areas such as software development, image processing, dataflow architecture, in-memory computing, algorithms, and quantization, all backed by a proven track record of business success. He expressed eagerness to build upon their substantial research and development efforts, introducing innovative solutions worldwide in the upcoming years. The Axelera chipset is expected to be available to select customers beginning in 2022.

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