Congratulations to Axelera AI, securing more than €200 million funding on global commercial growth

Today Axelera AI announced the largest investment ever in an EU AI semiconductor company, with the participation of the EIC Fund. Axelera AI is a European AI semiconductor company developing next-generation AI acceleration hardware for edge computing and data centre applications. With an edge-first architecture that addresses AI’s critical energy and cooling constraints, they deployed across more than 500 customers including in telecommunications, aerospace, and enterprise sectors.

"The European Investment Council is pleased to support Axelera AI as they scale their AI acceleration technology,” said Svetoslava Georgieva, Chair of the European Innovation Council Fund Board. “This investment reflects our commitment to fostering European deep tech innovation that addresses global challenges. Axelera's edge AI solutions directly tackle two critical issues—reducing the massive energy consumption of AI infrastructure and ensuring data sovereignty—while demonstrating strong commercial traction with customers worldwide. This is exactly the type of strategic innovation Europe needs to maintain its competitive edge in the global AI economy."

Axelera AI has been supported by the EIC since 2023, first under the EIC Accelerator, then under the EIC STEP Scale Up call. 

Read Axelera AI’s full press release.