Axelera AI has closed a $68 million Series B funding round, bringing its total raised to $120 million, aimed at expanding its AI hardware solutions and addressing industry challenges.

Target Information

Axelera AI, a leading provider of specialized AI hardware acceleration technologies for generative AI inference and computer vision, has successfully closed a Series B funding round of $68 million. This brings the total funds raised to $120 million over a span of just three years. The company has established a strong team of over 180 employees, including more than 60 PhD holders, with an impressive academic footprint of over 40,000 citations in scientific literature.

Axelera AI has already launched its Metis™ AI platform, which claims to enhance efficiency and performance by 3-5 times. The company has garnered significant interest from clients with potential project values exceeding $100 million, solidifying its position in the market and attracting global investors such as venture capitalists, sovereign wealth funds, and pension funds.

Industry Overview

The AI industry is on a rapid growth trajectory, particularly in Europe, where companies are increasingly exploring innovative ways to incorporate computer vision and generative AI capabilities into their business models. Howeve