Dutch AI Chip Startup Axelera Secures $68M to Challenge Nvidia
Eindhoven, Friday, 28 June 2024.
Axelera AI, a Dutch startup, has raised $68 million in Series B funding to expand its AI chip offerings from edge to cloud. The company aims to rival Nvidia with its energy-efficient and cost-effective Metis AI Platform, capable of 39.3 trillion computations per second.
Funding and Strategic Expansion
Axelera AI, based in Eindhoven, Netherlands, has garnered significant attention with its latest funding round. The Series B investment, which brings the total funding to $120 million in just three years, was led by prominent institutional investors including the Invest-NL Deep Tech Fund, European Innovation Council Fund, and Samsung Catalyst Fund[1][2][3]. This financial boost will enable Axelera to not only enhance its current product lineup but also to expand into new regions and sectors. Notably, the funding will support the company’s ventures into industrial robotics, agriculture, and autonomous vehicles[2].
Technological Advancements
Axelera’s flagship product, the Metis AI Platform, is central to its strategy. This platform combines RISC-V architecture with in-memory computing to deliver unparalleled efficiency and performance. Specifically, the Metis AI Processing Unit (AIPU) is capable of performing 39.3 trillion computations per second, making it one of the most powerful AIPUs for edge devices[1][4]. Each AIPU features four AI cores that can either collaborate on complex tasks or process different neural networks concurrently, providing flexibility and robustness in AI applications[4].
Applications and Market Impact
The implications of Axelera’s innovations are vast. The company’s technology is set to revolutionize various industries by providing high-performance AI solutions that are significantly more energy-efficient and cost-effective than current market leaders like Nvidia. For example, Axelera’s Thetis Core chip, capable of performing 260,000 calculations per cycle, is highly suitable for AI neural network calculations[2]. This makes it an attractive option for hardware product designers and engineers aiming to integrate AI into everyday applications, from smart home devices to advanced industrial automation[2].
Global Expansion and Future Plans
With its robust funding and cutting-edge technology, Axelera is poised for substantial global expansion. The company plans to enter markets in North America, Europe, and the Middle East, focusing on key verticals such as automotive, healthcare, and retail[5]. Additionally, the funding will support the development of new products aimed at addressing the growing demands of generative AI, large language models, and multi-modal models[1][3]. Axelera’s vision to democratize AI usage aligns with its mission to create a safer and greener world by making high-performance AI accessible and affordable[2][4].