After investing in Axelera’s $65 million funding round via its Innovation Council Fund last year, the EU said the company was working “to secure Europe’s place in the AI revolution, eliminate reliance on foreign chips, and build a competitive, sovereign AI industry.”
In addition to equity funding, Axelera AI was awarded a €68 million grant under the European Union’s DARE initiative to develop AI chiplets for high-performance computing and supercomputing applications.
According to Axelia (pictured above), Axelera’s AI spokesperson, “Axelera AI has raised over $225 million in the past three years through a combination of grants and equity investments.”
Axelera plans to market a chiplet, called Titania, for running AI applications on robots, cars and datacentres, by 2028. The chip uses a proprietary Digital In-Memory Computing (D-IMC) technology and RISC-V processing.
“Talent is essential,” says CEO and founder Fabrizio Del Maffeo (pictured right), “you simply
need the best people out there. To attract them, competitive salaries are important – but not sufficient. Brilliant people also want autonomy, flexibility, and a sense of purpose. So that’s what we offer them. And it works: I’ve never before been surrounded by such great minds. I often joke that I’m lucky I started this company, or I would never survive the hiring process!”
Samsung Catalyst Fund is also an investor. It is reported that Axelera is talking to existing and new investors with the intention of raising the $150 million by the end of the year.
