Dutch AI Semiconductor Startup Axelera AI Launches With $12 Million Seed Round
AI semiconductor startup Axelera AI announced today that it has successfully closed a seed investment round of $12 million.
The round was led by emerging technologies leader Bitfury and joined by global nanoelectronics R&D center imec and deep-tech venture capital funds Innovation Industries and imec.xpand. The funding will support the company’s development of an industry-defining product powering AI applications at the edge.
Axelera AI was incubated by Bitfury Group in 2019, formerly operating as Bitfury AI until the company came out as an independent entity this year. Building on its extensive research and development focused on integrating world-class hardware and software technologies for edge and cloud-to-edge enterprise solutions, Axelera AI joined forces with imec in early 2020 to develop groundbreaking computing architecture for high-performance AI. Headquartered in the AI Innovation Center of the High Tech Campus in Eindhoven, Axelera AI also has R&D offices in Leuven (BE) and Zurich (CH). The company has already recruited an elite team of more than 20 senior engineers and developers from world-leading AI companies and research centers, including Intel, Qualcomm, IBM, and imec.
“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,” said Fabrizio del Maffeo, CEO and co-founder of Axelera AI. “Our extraordinary team merges complementary expertise in software development, image processing, dataflow architecture, in-memory computing, algorithms and quantization with a proven track record of business success. We look forward to building on our extensive R&D and introducing new solutions across the globe over the next few years.”
Axelera AI is designing the world’s most efficient and advanced solutions for AI at the edge. Its game-changing hardware and software product will concentrate the AI computational power of an entire server into a single chip at a fraction of the power consumption and price of AI hardware today. The company’s groundbreaking solution will empower thousands of applications of AI at the edge, making the use of AI more efficient and accessible than ever before. Axelera AI’s products will be fully integrated with the leading open-sourced AI frameworks when it launches to select customers and partners in early 2022.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210915005028/en/
Contact information
Felipe Augusto Chies
press@axelera.ai
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
flatexDEGIRO Starts Into Expected Record Year 2024 With a Jump in Revenues and Earnings25.4.2024 21:19:00 EEST | Press release
flatexDEGIRO starts into expected record year 2024 with a jump in revenues and earnings Revenues increased by 25% to € 123 million (Q1 2023: € 98 million) flatexDEGIRO benefits from both rising interest income and a significant increase in commission income per transaction EBITDA improves by 177% to € 54 million (Q1 2023: € 19 million) Consolidated net profit increases by 340% to € 30 million (Q1 2023: € 7 million) 121,000 new customer accounts in Q1 2024 increase customer base to over 2.8 million (March 2023: 2.5 million) Net cash inflows of € 1.8 billion in Q1 2024 Revenues and consolidated net income in 2024 expected to be at the upper end of the guidance corridor (revenue growth of 5-15% and increase in consolidated net income of 25-50%) For the first time, the Management Board and Supervisory Board will propose to the upcoming Annual General Meeting the authorization to buy back up to 10% of the share capital as well as an additional dividend of 4 cents per share Dr. Benon Janos,
OpenGate Capital Completes Sale of SMAC25.4.2024 20:14:00 EEST | Press release
OpenGate Capital (“OpenGate”), a global private equity firm, announced today that it has completed the sale of SMAC, a provider of waterproofing and building envelope systems, to Compagnie Financière Jousset (“CFJ”) and the SMAC management team. Terms of the transaction were not disclosed. SMAC was established in 1884 and has grown into a leader in the French waterproofing and facades market. OpenGate acquired the business in 2019 from Colas Group, a subsidiary of Bouygues SA. Following the carve-out and stabilization of SMAC in the first year of investment, OpenGate embarked on a three-prong approach to sell the manufacturing (“Industrie”) business lines in 2020 and 2021 and achieved the following results: March 2021: Axter (membranes business) was sold to IKO April 2021: Skydôme (skylights business) was sold to Kingspan January 2022: Résipoly (resins business) was sold to MAPEI After the disposals of the Industrie business lines, SMAC was then able to focus on its core “Travaux” (ins
Farcana Announces Gateway: Showdown - Playtest Kicks Off April 30th, with a 1,000,000 $FAR token prize pool!25.4.2024 18:40:00 EEST | Press release
Farcana, a highly anticipated competitive, team-based hero shooter, announces Gateway: Showdown, a public playtest event taking place from April 30th to May 4th, 2024. This playtest serves as a crucial opportunity for Farcana to gather valuable player feedback, showcase the latest iteration of the game before its official launch and offer players a chance to claim a portion of the 1,000,000 $FAR token prize pool. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240425936808/en/ Farcana Announces Gateway Showdown - Playtest Kicks Off April 30th, with a 1,000,000 $FAR token prize pool! (Photo: AETOSWire) Gateway: Showdown welcomes all aspiring heroes with a signup process designed for ease and accessibility. Players can visit the official Farcana website at https://www.farcana.com to download the game client, create an account, and be automatically enrolled in the playtest. Every match played during the event will contribute to
Antognolla at International Hospitality Investment Forum: Growing Interest in the Italian Market from Hotel Operators and Investors25.4.2024 17:39:00 EEST | Press release
Antognolla Resort & Residences joined world-class hospitality experts at the Hospitality Investment Forum EMEA (IHIF EMEA) on 15-17 April in Berlin. With over 2,500 attendees this year, IHIF EMEA remains one of the largest gatherings of industry professionals in the region. Hospitality experts and event participants reaffirmed the growing interest among hotel operators in Italy, evident from the number of prestigious international brands entering the Italian market. The hospitality market in the country is becoming more identity-driven, with the majority of hotel keys in the upscale and luxury category being branded. International operators are increasingly attracted to the country year by year: almost 70% of the properties in the pipeline will belong to international chains by 2026. Andrey Yakunin, Chairman of the Board of Directors of Antognolla Resort & Residences commented: “As international experts discussed during IHIF, identity-driven, branded projects are set to become the lead
Digital Transformation’s Next Era: Generative AI and Laserfiche 12 at 2024 Empower Conference25.4.2024 17:30:00 EEST | Press release
Preparing organizations for the next AI-driven phase of digital transformation is on the agenda at the 2024 Empower conference, hosted by Laserfiche — the leading SaaS provider of intelligent content management and business process automation — in Las Vegas through April 25. Laserfiche shines a spotlight on solutions that reduce complexity and accelerate information flow across the enterprise to help organizations manage increasing amounts of data. Empower attendees got an early look at the latest Laserfiche AI features, including Laserfiche AI Document Summarization. The new offering, powered by generative AI, eliminates tedious sifting through documents by generating concise summaries of documents containing either text or transcribed audio. Laserfiche AI Document Summarization, which represents one milestone in the Laserfiche AI vision to transform the workplace, will be available in the upcoming Laserfiche Cloud release on April 30, 2024. “At Laserfiche, we believe AI will impact p
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom