Funding round
Axelera AI Series C
Axelera AI, which works in AI hardware acceleration solutions in Eindhoven, raised $250M in a Series C round announced on 24 Feb 2026, led by Innovation Industries. 12 firms took part. It is Axelera AI's fourth venture round on record; the one before was a Series B in Jun 2024.
$250M
Amount raised
Not disclosed
Post-money valuation
12
Investors
1 lead
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 Series B. It is 66% of the $380M Axelera AI has raised in the venture rounds on record. No later venture round is on record for Axelera AI.
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
Innovation Industries led the round with 11 other firms.
Lead investor
- backs 24 venture-backed companies new investor
Also in the round
- BlackRock new investor
- SiteGround Capital new investor
- backs 3 venture-backed companies new investor
- CDP Venture Capital new investor
- European Innovation Council Fund new investor
- backs 23 venture-backed companies new investor
- backs 46 venture-backed companies new investor
- backs 32 venture-backed companies new investor
- backs 80 venture-backed companies new investor
- IMEC cvc new investor
- EuroHPC Joint 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
216 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $69M, and this round was 3.6 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 24 Feb 2026 | $96M | $1.00B | Lightspeed Venture Partners |
| Tech Companies | 2 Feb 2026 | $75M | $700M | Growth Equity at Goldman Sachs Alternatives |
| Tech Companies | 26 Feb 2026 | $75M | not disclosed | Springcoast Capital Partners |
| Tech Companies | 4 Feb 2026 | $70M | $1.00B | Blockchain Capital |
| Tech Companies | 26 Feb 2026 | $60M | $550M | Wellington Management |
| Tech Companies | 11 Feb 2026 | $50M | not disclosed | Insight Partners |
| Tech Companies | 23 Feb 2026 | $50M | not disclosed | Lead Edge Capital |
| Tech Companies | 17 Feb 2026 | $35M | not disclosed | CVS Health Ventures |
Questions
Frequently asked
How much did Axelera AI raise in its Series C round?
Axelera AI raised $250M in its Series C round, announced in Feb 2026.
Who led Axelera AI's Series C round?
Innovation Industries led it, with BlackRock, SiteGround Capital, Bitfury, CDP Venture Capital and European Innovation Council Fund and 6 more.
What was Axelera AI's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
216 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $69M, and this round was 3.6 times the median.