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Axelera Adds $68 Million to Funding for Edge AI Chip

A Ichip

By: Mary Jander

Axelera AI, a fabless semiconductor startup headquartered in Eindhoven, The Netherlands, has scored $68 million in Series B financing for an innovative AI chip designed to accelerate computer vision applications at the network edge.

The funding casts the spotlight on a growing market for low-cost, high-performance inferencing chips for use at the edge of Internet of Things (IoT) networks.

The round brings Axelera’s total raised to $120 million since its founding in July 2021 by Fabrizio Del Maffeo (ex-Advantech and various startups, now CEO), Evangelos Eleftheriou (now CTO), and Cyril Vancura (now a non-executive director).

Within that three-year period, the firm says it’s created a $100 million pipeline of orders for its Metis AI Processing Unit (AIPU), a chip that handles multiple camera streams for AI applications in security, retail, industry 4.0, healthcare, agriculture drones, and others. The company has over 180 employees, including over 55 PhDs.

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