Eindhoven-based startup Axelera has raised $68mn as it looks to take its AI chip business global. One of the lead investors is Samsung Catalyst, the venture arm of the semiconductor giant Samsung Electronics.
Axelera is developing AI chips that enable computer vision and generative AI in edge devices like robots and drones.
Because they’re located within the devices themselves, the AI chips can process data in milliseconds without the need to upload or download data to the cloud. This delivers high computing performance at a fraction of the cost and energy consumption of centralised AI models, said the startup.
Axelera leverages what’s known as in-memory computing. That’s when data is stored in the main memory (RAM) instead of on traditional disk storage. This makes for even faster data processing and retrieval.
“To truly harness the value of AI, organisations need a solution that delivers high-performance and efficiency while balancing cost,” said Fabrizio Del Maffeo, co-founder and CEO at Axelera AI.
Axelera builds the chips, known as AI processing units (AIPUs), as well as the software that runs them. Dubbed Metis, the startup claims that the chip is the world’s most powerful AIPU for edge devices.
Democratising AI
Axelera’s chips make use of the instruction set architecture (ISA) RISC-V. An ISA acts like a bridge between the hardware and the software. It specifies both what the processor is capable of doing as well as how it gets done.
RISC-V is a low-cost, efficient, and flexible ISA that can be customised to specific use cases. Crucially, unlike most ISAs, it is open source, which means no single entity controls it.
“Our mission is to democratise access to artificial intelligence,” said Del Maffeo.
By specialising in edge AI, and developing both the software and hardware components, Axelera looks to give itself a competitive edge in a booming AI chip market dominated by the likes of Nvidia, Intel, and IBM.
Speaking of IBM, Del Maffeo, who previously worked at Belgium-based tech lab Imec, co-founded Axelera alongside Evangelos Eleftheriou, a former veteran at the American tech giant.
Axelera plans to put its AI processing units into full production in the latter half of this year. It looks to expand its presence in North America, where it already has an office, and into new industries such as automotive, digital healthcare, and surveillance. The startup is also exploring the development of high performance AI chips for data centres and supercomputers.
Hailing from Eindhoven, Axelera exists in one of the most mature semiconductor tech hubs in the world. The city is home to Philips-founded NXP Semiconductors and ASML, which produces chip-making machines for almost every major semiconductor manufacturer on Earth.
This latest funding round brings Axelera’s total raised to $120mn. New investors include the Samsung Catalyst Fund, European Innovation Council Fund, Innovation Industries Strategic Partnership Fund, and Invest-NL.