Axelera AI secures $68 mn for data center growth

Dutch edge AI chip developer Axelera AI has raised $68 million in an oversubscribed Series B round, bringing its total funding to $120 million. The company plans to use the funds to expand into the US and Middle East and venture into sectors such as automotive, digital healthcare, Industry 4.0, retail, robots & drones, and surveillance systems, as reported by eeNews Europe.

Axelera AI has a $100 million pipeline for its Metis AI Platform, which boosts efficiency and performance by 3-5x using in-memory compute and custom RISC-V cores for computer vision AI. The platform is expected to be in full production in the second half of 2024.

This funding will also enable Axelera AI to expand its product offerings from the edge to the data center, addressing the growing computing needs for generative AI, large language models, and large multi-modal models. The market expansion will focus on high-performance computing by designing efficient, high-performance, and price-competitive AI accelerators to power future exa-scale and peta-scale HPC centers.

“There’s no denying that the AI industry has the potential to transform a multitude of sectors,” said Fabrizio Del Maffeo, Co-Founder and CEO at Axelera AI.

“However, to truly harness the value of AI, organizations need a solution that delivers high-performance and efficiency while balancing cost. This funding supports our mission to democratize access to artificial intelligence, from the edge to the cloud. By expanding our product lines beyond the edge computing market, we are able to address industry challenges in AI inference and support current and future AI processing needs with our scalable, proven technology.”

“The Edge AI market remains a key focus area for Axelera AI. However, as the AI industry has continued to evolve, we have identified opportunities to expand beyond Edge AI into new market segments,” the company tells eeNews Europe. “This includes automotive, high-performance computing and the data centre to address the growing computing needs for generative AI, large language models and large multi-modal models.”

“Axelera AI’s architecture minimizes data movement between memory and compute elements, aiming to overcome the “Memory Wall” challenge. It also has the promise of significantly reducing power consumption, a critical attribute for AI applications at the edge and beyond,” said said Marco Chisari, Head of Samsung Semiconductor Innovation Center and Executive Vice President, Samsung Electronics.

Partner Resources

Popular Right Now

Edgecore Insight Podcast

Ep-1: Navigating the Waters of Sustainability

Others have also read ...