An investor consortium, including Invest-NL, European Innovation Council Fund, Innovation Industries, Samsung Catalyst Fund, Verve Ventures, Innovation Industries, Fractionelera and CDP Venture Capital led a $68m in Axelera AI, a provider of purpose-built AI hardware acceleration technology. “There’s no denying that the AI industry has the potential to transform a multitude of sectors. However, to truly harness the value of AI, organizations need a solution that delivers high-performance and efficiency while balancing cost. This funding supports our mission to democratize access to artificial intelligence, from the edge to the cloud. By expanding our product lines beyond the edge computing market, we are able to address industry challenges in AI inference and support current and future AI processing needs with our scalable, proven technology,” Fabrizio Del Maffeo, Axelera AI Co-Founder and CEO.