Axelera AI Closes $68M Series B Round to Expand AI Hardware Technology
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Slice of Technology Team
07/09/2024
Key Highlights:
- $68 million Series B funding round closed, totaling $120 million raised.
- Metis™ AI Platform achieves 3-5x efficiency and performance increase.
- Strong business pipeline exceeding $100 million.
- Global expansion targeting North America, Europe, and the Middle East.
- New product offerings from edge to data center for AI applications.
Source (Business Wire)
Quotes
“ “We are very excited to support Axelera AI in their Series B financing. The company introduces a very innovative approach for high performance AI acceleration at the edge, by implementing Digital In-Memory Computing.” ”
Marco Chisari, Head of Samsung Semiconductor Innovation Center and Executive Vice President at Samsung Electronics
Our Take:
Axelera AI's successful Series B funding round underscores the robust demand for high-performance AI hardware solutions, particularly in generative AI and computer vision. The company's strategic focus on energy-efficient, cost-effective AI acceleration technology positions it well to address industry challenges and expand into lucrative markets. With a strong leadership team and a clear growth strategy, Axelera AI is poised to make significant advancements in AI inference technology, benefiting a wide range of industries from automotive to digital healthcare. This investment will likely accelerate the development and deployment of their Metis™ AI Platform, offering a competitive edge in the rapidly evolving AI hardware market.
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