🎉Today is an exciting day for Axelera AI! We have announced the successful close of an oversubscribed $68 million Series B financing round - Europe's largest oversubscribed Series B funding round in the fabless semiconductor industry.
🚀 This tremendous milestone is a testament to the growth and success we’ve had as a company. In just three years, we have raised a total of $120 million and have built a world-class team of 180 employees (including 55 PhDs with more than 40,000 citations). We have also launched our Metis™ AI Platform, which achieves a 3-5x increase in efficiency and performance, and have visibility into a strong business pipeline exceeding $100 million. This success has attracted diverse global funding from venture capital, sovereign wealth, and pension funds.
We would like to thank the major institutional investors involved in this round, including Invest-NL Deep Tech Fund, the European Innovation Council and SMEs Executive Agency (EISMEA) Fund, Innovation Industries Strategic Partners Fund (backed by Dutch Pension Funds PMT and PME, administered by MN), and Samsung Catalyst Fund, along with existing investors Verve Ventures, Innovation Industries, Fractionelera, and the Italian sovereign fund CDP Venture Capital SGR. We would also like to thank those who contributed to previously raised funds, including the innovation credit from RVO - Netherlands Enterprise Agency , and equity investment from Bitfury, CDP Venture Capital, Federal Holding and Investment Company of Belgium (SFPIM),imec, imec.xpand, and Innovation Industries.
We would also like to thank the entire Axelera AI team. This achievement would not have been possible without our incredible executives, board of directors and employees.
We are tremendously excited for what’s ahead as we continue our global growth, expand into new markets, accelerate product development and emphasize Axelera AI’s position as the AI industry’s partner of choice to unlock innovation.
Learn more about this exciting milestone in this press release → https://lnkd.in/dhdgFMbC
Fabrizio Del Maffeo, Charles Mander, Evangelos Eleftheriou, Flavio Devide', Olivia Hughes, Jonathan Ferguson, Marco Barbato, Ioannis Koltsidas, Meghna Singh, Hugh Brown, Inder M. Singh Jonathan Ballon, Sander Verbrugge, Cyril Vančura, Massimo Vanzi, Valery Vavilov
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