Dutch startup Axelera AI, which develops AI chips for edge devices, has raised more than $250 million in funding, SiliconANGLE reported on Feb. 24.
The funding round was led by Amsterdam-based venture capital firm Innovation Industries. BlackRock and the Samsung Catalyst Fund participated.
Axelera AI's flagship product Metis carries out 214 trillion operations per second while consuming 10 watts of power, making it suitable for battery-powered devices. The company said Metis maximises power efficiency by applying a digital in-memory computing (D-IMC) architecture that minimises data movement.
Axelera AI plans to use the investment to strengthen its chip manufacturing capabilities and expand customer support and its partner network.
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Chi-gyu Hwang
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