Invest-NL Deep Tech Fund invests in Axelera AI

Invest-NL recognizes the enormous potential of Axelera AI's technology in the rapidly evolving market for edge AI chips. This market is undergoing a significant shift from cloud-based to so-called edge-based solutions, driven by the need for energy efficiency and real-time processing capabilities. Axelera AI has developed a digital in-memory chip, leading to 3-5 times higher efficiency and performance. Axelera AI's chip technology is a significant innovation that will contribute to the development and application of artificial intelligence, particularly in applications such as the Internet of Things (IoT).

Our investment aligns with several strategic European initiatives, including the EU Chips Act, which strengthens European semiconductor capabilities; the EU AI strategy, which promotes the development of reliable AI; and the National Growth Fund (AINED), which supports the growth of the Dutch deep tech ecosystem.

In this round, Invest-NL played a crucial role in bringing together a consortium of European and international investors. Other investors in the consortium include the European Innovation Council Fund, the Samsung Catalyst Fund, the Strategic Partner Fund of Innovation Industries, Verve Ventures, along with existing investors such as Innovation Industries and the Italian NPI, CDP Italy.

Johan Stins, senior investment manager at Invest-NL, is very pleased with the completion of this round: "Europe has some catching up to do when it comes to fabless chip developers, which focus on designing and developing semiconductor chips without manufacturing them. Our investment in Axelera AI strengthens the European and Dutch semiconductor industries and promotes the development of our knowledge economy and future earning potential. Axelera AI's innovative edge AI solutions can achieve significant progress in artificial intelligence, making this deal particularly special at this time."