Funding round
Axelera AI Series A
Axelera AI, which works in AI hardware acceleration solutions in Eindhoven, raised $50M in a Series A round announced on 22 May 2023. 7 firms took part. It is Axelera AI's second venture round on record; the one before was a Seed in Sep 2021.
$50M
Amount raised
of which $6.7M debt
Not disclosed
Post-money valuation
7
Investors
no lead named
Valuation
What this round says about the price
Axelera AI did not disclose a valuation in this round. It came 20 months after Axelera AI's Seed. It is 13% of the $380M Axelera AI has raised in the venture rounds on record. Axelera AI raised again 13 months later: a Series B round of $68M in Jun 2024.
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
7 firms took part; no lead investor was named.
Investors
- CDP Venture Capital new investor
- backs 80 venture-backed companies new investor
- Fractionelera new investor
- backs 24 venture-backed companies new investor
- backs 26 venture-backed companies new investor
- backs 23 venture-backed companies new investor
- Netherland Enterprise Agency (RVO) new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,514 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was 4.5 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 16 May 2023 | $81M | $500M | Celesta Capital and Mayfield |
| Tech Companies | 24 May 2023 | $38M | not disclosed | not named |
| Tech Companies | 31 May 2023 | $20M | not disclosed | Transpose Platform |
| Tech Companies | 4 May 2023 | $20M | not disclosed | East Ventures |
| Tech Companies | 17 May 2023 | $19M | not disclosed | not named |
| Tech Companies | 11 May 2023 | $19M | not disclosed | Grotech Ventures |
| Tech Companies | 24 May 2023 | $18M | not disclosed | Notion Capital |
| Tech Companies | 17 May 2023 | $18M | not disclosed | Madrona |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Axelera AI raise in its Series A round?
Axelera AI raised $50M in its Series A round, announced in May 2023.
Which investors took part in Axelera AI's Series A round?
CDP Venture Capital, Verve Ventures, Fractionelera, Innovation Industries, imec.xpand and Federal Holding and Investment Company and 1 more.
What was Axelera AI's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,514 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was 4.5 times the median.
Did Axelera AI raise again after this round?
Yes: a Series B round in Jun 2024 of $68M.