Axelera, which is developing an AI accelerator chip, raises $12M
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Axelera AI, a Dutch AI semiconductor startup, today emerged from stealth with $12 million in seed funding led by Bitfury, a security and infrastructure provider for the Bitcoin blockchain. Innovation Industries Fund participated in the round, which the company says will support developing of AI apps at the edge.
Edge AI, the processing of AI algorithms on devices like drones, digital signage, cameras, and sensors, derives from edge computing, which starts from the same premise: Data is processed and managed at internet of things endpoints. Edge AI is advantageous in industries like retail, robotics, and manufacturing, where it can deliver lower latency than sending data to remote servers — and avoid disruptions and costs in the process.
Incubated by Bitfury, Axelera says it’s developing a chipset to accelerate AI and machine learning algorithms at the edge. The startup claims that its product, which is scheduled to ship to select customers in 2022, will achieve a fraction of the power consumption and price of competing hardware.
