- Axelera, a startup specializing in AI chips, has secured $68 million in Series B funding.
- Founded with support from Imec and IBM researchers, Axelera focuses on RISC-V ISA and in-memory computing for AI hardware.
- The funding will support the launch of their Metis AI platform and expansion into new markets by late 2024.
- Axelera aims to compete in both edge computing and data center chip markets, targeting high-performance computing applications.
- Despite competition from established players like Nvidia, Axelera remains optimistic about carving a niche in the $67 billion AI chip market by 2027.
Main AI News:
As the demand for AI chips surges with the rise of generative AI technologies, Axelera, an AI chip startup, has successfully secured significant backing, including from Samsung. Positioned within the niche of edge device AI chip manufacturing, Axelera has strategically attracted investors amidst fierce competition.
“The potential of AI to revolutionize numerous sectors is undeniable,” noted Fabrizio Del Maffeo, CEO of Axelera, in an interview with TechCrunch. “To fully leverage AI’s value, organizations require high-performance, cost-effective solutions.”
Headquartered in the Netherlands, Axelera operates with a workforce of approximately 180 across offices in Belgium, Switzerland, Italy, and the U.K. The company specializes in designing AI-running chips and systems for applications ranging from security to automotive, catering primarily to B2B edge computing and IoT sectors.
Axelera originated from efforts led by Del Maffeo and collaborators at Imec, supported by Zurich-based IBM researchers, with early incubation within Bitfury Group. The company’s AI hardware stack features the RISC-V instruction set architecture (ISA) and in-memory computing, distinguishing itself in a competitive landscape.
With a recent $68 million Series B funding round, Axelera plans to expand into new markets and advance its flagship Metis AI platform, targeting full production by the second half of 2024. Future plans include entering the data center chip market, focusing on high-performance computing applications.
“Metis is already in full production and will scale up significantly in the coming quarters,” Del Maffeo affirmed. “Our new product line for computer vision and multimodal models is set to launch in 2025.“
The challenge for Axelera lies in scaling production and competing against established players like Nvidia, which dominates a significant share of the AI chip market. Despite this, Axelera remains optimistic about its prospects, aiming to carve out a meaningful segment of the market.
“Our mission is to democratize AI access across different computing environments,” Del Maffeo stated. “Expanding beyond edge computing will enable us to meet evolving AI processing demands.”
Axelera’s strategic funding aims to bolster its market presence and technological capabilities, positioning the company for sustained growth amidst a dynamic AI chip industry poised for substantial revenue expansion by 2027.
Conclusion:
Axelera’s successful funding round underscores its strategic positioning in the burgeoning AI chip market. With plans to expand product lines and market reach, Axelera is poised to capitalize on growing demand for AI-driven technologies across diverse sectors, despite facing formidable competition.
