AI Chip Startup Axelera Lands $27M in Capital to Commercialize its Hardware

Oct 26,2022
KingData News: Axelera, an AI chip company incubated by crypto miner Bitfury, announced the closing of a $27 million Series A round of funding. In addition, the Netherland Enterprise Agency awarded Axelera AI a $6.7 million loan commissioned by the Ministry of Economic Affairs and Climate Policy. Investors: The round was led by Innovation Industries, with participation from Imec.xpand, Belgian Federal Holding and Investment Company. Project Info: Axelera, incubated by Bitfury Group in 2019 and previously operating as Bitfury AI, will start operating independently in 2021, focusing on developing chips for memory-based computing that reduce latency incurred by storage devices by executing computations in RAM.
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