Funding round
Axelera AI Seed
Axelera AI, which works in AI hardware acceleration solutions in Eindhoven, raised $12M in a Seed round announced on 16 Sep 2021, led by Bitfury. 4 firms took part. It is Axelera AI's first venture round on record.
$12M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Axelera AI did not disclose a valuation in this round. It is Axelera AI's first venture round on record, in the year it was founded (2021). It is 3.2% of the $380M Axelera AI has raised in the venture rounds on record. Axelera AI raised again 20 months later: a Series A round of $50M in May 2023.
Axelera AI's funding rounds
Axelera AI has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Bitfury led the round with 3 other firms.
Lead investor
- backs 3 venture-backed companies new investor
Also in the round
- imec new investor
- backs 24 venture-backed companies new investor
- backs 26 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
2,397 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.0M, and this round was 4.0 times the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 22 Sep 2021 | $69M | not disclosed | Upper90 |
| Tech Companies | 14 Sep 2021 | $13M | not disclosed | TLV Partners and Vertex Ventures |
| Owner Tech Companies | 1 Sep 2021 | $11M | not disclosed | SaaStr Fund |
| Tech Companies | 21 Sep 2021 | $10M | not disclosed | not named |
| Tech Companies | 29 Sep 2021 | $10M | not disclosed | Madrona |
| Tech Companies | 16 Sep 2021 | $8.8M | not disclosed | Crane Venture Partners and Notion Capital |
| Tech Companies | 28 Sep 2021 | $8.0M | not disclosed | DARMA Capital vc |
| Tech Companies | 2 Sep 2021 | $7.1M | not disclosed | 468 Capital and La Famiglia |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Axelera AI raise in its Seed round?
Axelera AI raised $12M in its Seed round, announced in Sep 2021.
Who led Axelera AI's Seed round?
Bitfury led it, with imec, Innovation Industries and imec.xpand.
What was Axelera AI's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
2,397 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.0M, and this round was 4.0 times the median.
Did Axelera AI raise again after this round?
Yes: a Series A round in May 2023 of $50M.