TechFlow news — Axelera, an AI chip company spun out of cryptocurrency mining firm Bitfury, has announced the completion of a $27 million Series A funding round led by Innovation Industries, with participation from Imec.xpand and the Belgian Federal Holding and Investment Company. The funds will support the commercialization of its hardware. Additionally, the Netherlands Enterprise Agency has awarded Axelera a $6.7 million loan commissioned by the Ministry of Economic Affairs and Climate Policy.
Earlier news: In September last year, Dutch AI chip startup Axelera AI announced it had closed a $12 million seed funding round, led by Bitfury, a Bitcoin mining hardware manufacturer, with participation from the Innovation Industries Fund. [Original link]
