Funding round
Axelera AI Series B
Axelera AI, which works in AI hardware acceleration solutions in Eindhoven, raised $68M in a Series B round announced on 27 Jun 2024. 12 firms took part. It is Axelera AI's third venture round on record; the one before was a Series A in May 2023.
$68M
Amount raised
Not disclosed
Post-money valuation
12
Investors
no lead named
Valuation
What this round says about the price
Axelera AI did not disclose a valuation in this round. It came 13 months after Axelera AI's Series A. It is 18% of the $380M Axelera AI has raised in the venture rounds on record. Axelera AI raised again 20 months later: a Series C round of $250M in Feb 2026.
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
12 firms took part; no lead investor was named.
Investors
- backs 46 venture-backed companies new investor
- European Innovation Council Fund new investor
- backs 24 venture-backed companies new investor
- backs 32 venture-backed companies new investor
- backs 80 venture-backed companies new investor
- backs 24 venture-backed companies new investor
- Fractionelera new investor
- backs 49 venture-backed companies new investor
- CDP Venture Capital new investor
- EIC Fund new investor
- backs 3 venture-backed companies new investor
- backs 23 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
607 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 2.3 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Waabi Tech Companies | 18 Jun 2024 | $200M | not disclosed | Uber and Khosla Ventures |
| Tech Companies | 26 Jun 2024 | $90M | not disclosed | Battery Ventures |
| Tech Companies | 1 Jun 2024 | $80M | $700M | Spark Capital |
| Tech Companies | 17 Jun 2024 | $70M | $356M | Highland Europe and AVP |
| Tech Companies | 24 Jun 2024 | $70M | not disclosed | not named |
| Tech Companies | 25 Jun 2024 | $67M | not disclosed | Hedosophia |
| Tech Companies | 27 Jun 2024 | $62M | $500M | Meritech Capital |
| Tech Companies | 1 Jun 2024 | $53M | not disclosed | Sorenson Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Axelera AI raise in its Series B round?
Axelera AI raised $68M in its Series B round, announced in Jun 2024.
Which investors took part in Axelera AI's Series B round?
Invest-NL, European Innovation Council Fund, Innovation Industries, Samsung Catalyst Fund, Verve Ventures and Innovation Industries and 6 more.
What was Axelera AI's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
607 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 2.3 times the median.
Did Axelera AI raise again after this round?
Yes: a Series C round in Feb 2026 of $250M.