--- title: Axelera Raises $68M to Expand Edge AI Chip Technology description: Axelera AI, a Netherlands-based startup specializing in AI Processing Units, raised $68 million in Series B funding, totaling $120 million. The funds will help... canonical: https://daily.dev/posts/axelera-raises-68m-to-expand-edge-ai-chip-technology-jnof3f2ey twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Axelera Raises $68M to Expand Edge AI Chip Technology | daily.dev og:description: Axelera AI, a Netherlands-based startup specializing in AI Processing Units, raised $68 million in Series B funding, totaling $120 million. The funds will help... og:url: https://daily.dev/posts/axelera-raises-68m-to-expand-edge-ai-chip-technology-jnof3f2ey og:image: https://api.daily.dev/og/posts/jNOF3f2eY.png og:image:alt: Axelera Raises $68M to Expand Edge AI Chip Technology og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Axelera Raises $68M to Expand Edge AI Chip Technology **[Collections](https://daily.dev/sources/collections)** · 2 min read · 2 upvotes · 0 comments ## Summary Axelera AI, a Netherlands-based startup specializing in AI Processing Units, raised $68 million in Series B funding, totaling $120 million. The funds will help expand their market presence and advance the development of the Metis AI platform, which integrates hardware and software for efficient computer vision inference using RISC-V architecture and in-memory computing. Axelera plans full production by 2024, aiming to democratize AI access across various applications, despite competition from industry giants like Nvidia, Intel, and IBM. ## Content # Axelera AI Raises $68M to Expand Market Presence and Advance AI Chip Development Axelera AI, a Netherlands-based startup specializing in Artificial Intelligence Processing Units (AIPUs) for edge computing, has successfully raised $68 million in Series B funding, bringing its total funds raised to $120 million. This significant investment will enable Axelera to expand its presence in key markets, including North America, Europe, and the Middle East, and to ramp up the development and production of its Metis AI platform. ## Focus on the Metis Platform The Metis AI platform integrates both hardware and software to efficiently handle computer vision inference, employing open-source RISC-V architecture and in-memory computing to speed up data processing. The platform is designed to offer high performance and efficiency at reduced costs, positioning Axelera as a strong competitor to industry giants like Nvidia, Intel, and IBM. ## Expansion and Future Plans The newly raised funds will support Axelera's mission to democratize AI access from edge to cloud, aiming to make advanced AI capabilities accessible for various applications such as drones, robots, automotive, and digital healthcare industries. The company plans to enter full production of the Metis platform by 2024 and explore new industry applications for its technology. ## Competitive Landscape With backing from prominent investors including Samsung Catalyst, Axelera aims to navigate the competitive landscape of the burgeoning AI chip market. The company faces significant competition but is confident that its innovative approach to AI chip design, leveraging RISC-V architecture and in-memory computing, will provide a solid foundation for growth and market penetration. ## Conclusion Axelera AI's recent funding is a testament to the growing interest and investment in AI edge computing solutions. As the company continues to innovate and expand, it aims to provide high-performance, cost-effective AI processing capabilities, ultimately striving to democratize AI access across various sectors and applications. ## Similar posts on daily.dev - [Don’t just attend KubeCon \+ CloudNativeCon, Merge Forward your experience\!](https://daily.dev/posts/don-t-just-attend-kubecon-cloudnativecon-merge-forward-your-experience--l0rpp73x8) · CNCF · 1 upvotes · 0 comments - [Announcing H2 2026 KCDs](https://daily.dev/posts/announcing-h2-2026-kcds-m96goajm1) · CNCF · 1 upvotes · 0 comments - [Two months of Open Community Groups](https://daily.dev/posts/two-months-of-open-community-groups-asf52zhbs) · CNCF · 0 upvotes · 0 comments - [CNCF Unveils Schedule for KubeCon \+ CloudNativeCon Europe 2026](https://daily.dev/posts/cncf-unveils-schedule-for-kubecon-cloudnativecon-europe-2026-ikhcoa5cb) · CNCF · 2 upvotes · 0 comments - [CNCF Debuts KubeCon \+ CloudNativeCon Japan 2026 Schedule](https://daily.dev/posts/cncf-debuts-kubecon-cloudnativecon-japan-2026-schedule-xp5pyudub) · CNCF · 1 upvotes · 0 comments --- Tags: [#ai](https://daily.dev/tags/ai), [#startup](https://daily.dev/tags/startup), [#edge-computing](https://daily.dev/tags/edge-computing) [View this post on daily.dev](https://daily.dev/posts/axelera-raises-68m-to-expand-edge-ai-chip-technology-jnof3f2ey) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Axelera Raises $68M to Expand Edge AI Chip Technology","url":"https://daily.dev/posts/axelera-raises-68m-to-expand-edge-ai-chip-technology-jnof3f2ey","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/axelera-raises-68m-to-expand-edge-ai-chip-technology-jnof3f2ey"},"datePublished":"2024-06-27T17:04:15.846Z","dateModified":"2024-06-28T10:35:44.837Z","description":"Axelera AI, a Netherlands-based startup specializing in AI Processing Units, raised $68 million in Series B funding, totaling $120 million. 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