Axelera AI promises groundbreaking hardware and software for AI applications. The first customers are expected to gain access to its products in early 2023.
European AI startup Axelera AI has secured $27 million in its first round of funding. Around 14 months after Axelera was founded, this investment is expected to support the launch and mass production of the first-generation accelerator platform. In that short time, the team has grown to about 80 employees who previously worked at companies such as Intel, Qualcomm and IBM.
Computing power of an “entire server” on one chip
Axelera AI aims to design “the world’s most efficient and advanced solutions for AI at the edge.” The “game-changing” hardware and software product will combine the AI computing power of an entire server on a single chip, which sounds particularly relevant given rising energy prices.
Last December, Axelera AI unveiled its first chip called Thetis Core, capable of up to 39.3 tera operations per second (TOP/s). The chip is expected to enable thousands of AI applications and make the use of AI more efficient and accessible than ever before. Selected partner companies will have access to the chip, including software, in early 2023.
First launch of the product in early 2023
“The strong commitment of our investors only further confirms that there is space and need in the European AI landscape for a leader. We are excited to take on this responsibility and are determined to strengthen Europe’s presence in the global AI sector,” said Fabrizio del Maffeo, CEO and co-founder of Axelera AI.
Axelera AI is headquartered at the AI Innovation Center of the High-Tech Campus in Eindhoven and has research and development offices in Belgium, Switzerland and Italy. Later this year, the company plans to expand to the U.S. and Taiwan.
Recently, U.S. AI companies Jasper (text generation) and Stability AI (image generation) received funding beyond the 100 million mark.