AI chip company Axelera completes $27 million Series A funding, led by Innovation Industries

ChainCatcher news, according to Techcrunch, the AI chip company Axelera, incubated by the crypto mining company Bitfury, announced the completion of a $27 million Series A funding round. This round was led by Innovation Industries, with participation from Imec.xpand, the Belgian Federal Holding and Investment Company. Additionally, the Dutch Enterprise Agency granted Axelera a $6.7 million loan commissioned by the Ministry of Economic Affairs and Climate Policy.

Axelera was incubated by Bitfury Group in 2019, previously operating as Bitfury AI, and began independent operations in 2021, primarily developing memory computing-based chips that reduce latency caused by storage devices by performing computations in RAM. (Source link)